SunCoke Energy Partners initiated with a Buy at Seaport Global. Seaport Global analyst Mark Levin initiated SunCoke Energy Partners (SXCP) with a Buy and $21 price target. Levin expects sponsor SunCoke Energy (SXC) to continue accumulating its units said the company has unique cash flow stability and predictability.
SunCoke Energy Partners announced that it has begun offering barge unloading services at its Convent Marine Terminal in combination with stevedoring and barge services provider Cooper Consolidated, LLC. The multi-year agreement between CMT and Cooper Consolidated provides for the use of Cooper Consolidated's extensive floating crane fleet and its unique Louisiana Mid-Stream One transload system to efficiently unload coal, petroleum coke and other materials from barges at CMT's dock. The companies recently demonstrated their combined capability by successfully unloading the first 30-barge shipment of coal bound for the export market.
SunCoke Energy Partners, the general partner of SunCoke Energy Partners, L.P. (SXCP), announced that Frederick A. Henderson has decided to retire as Chairman, CEO and President, and that Michael Rippey has been appointed as Chairman, CEO and President, effective December 1. Rippey, who is currently serving as a Senior Advisor to Nippon Steel & Sumitomo Metal Corporation and was previously Chairman of ArcelorMittal USA, also has been appointed as CEO, President and a director of SunCoke Energy (SXC).