* Sale arranged through third party
* Sees 2010 shipments of 7 mln tons
* Shares up 1 percent
March 15 (Reuters) - Patriot Coal Corp will foray into the Asian markets through a 1.5 million ton sale of metallurgical coal to steel mills in the Pacific Rim.
The company said it now expects 2010 met coal shipments of more than 7 million tons, a 30 percent rise over its 2009 shipments.
The company said the sale was arranged through a third party, Xcoal, said to have an extensive presence in Asian markets.
'We expect to see additional opportunities for met coal sales to Asia as 2010 unfolds,' Chief Executive Richard Whiting said.
Shares of the company rose about 1 percent to $19.35 in post-market trade after closing at $19.18 Monday on the New York Stock Exchange.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Maju Samuel) Keywords: PATRIOTCOAL/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Sees 2010 shipments of 7 mln tons
* Shares up 1 percent
March 15 (Reuters) - Patriot Coal Corp will foray into the Asian markets through a 1.5 million ton sale of metallurgical coal to steel mills in the Pacific Rim.
The company said it now expects 2010 met coal shipments of more than 7 million tons, a 30 percent rise over its 2009 shipments.
The company said the sale was arranged through a third party, Xcoal, said to have an extensive presence in Asian markets.
'We expect to see additional opportunities for met coal sales to Asia as 2010 unfolds,' Chief Executive Richard Whiting said.
Shares of the company rose about 1 percent to $19.35 in post-market trade after closing at $19.18 Monday on the New York Stock Exchange.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Maju Samuel) Keywords: PATRIOTCOAL/ (antonita.madonna@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters messaging: antonita.madonna.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.