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IRVINE, Calif., June 25, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, petroleum and coal, announced its management team for its international coal division are in the final preparations for the shipment and transportation for the sales of coal to its customers internationally.
The Company recently shipped coal samples to several customers in China for evaluation and testing of the coal type, quality and specifications. Several of the customers completed the testing and approved the coal for use in their coal fired electric power plants.
The Company recently signed an agreement with a transportation consulting firm that specializes in the arranging of the transportation, supply and distribution logistics for the movement of coal from coal mines to various seaports for export. They are assisting in negotiations of the rail contracts to transport coal through the unit trains and negotiating rates with various railroad companies.
The Company recently signed an agreement with a company to act as its agent for the acquisition of seaport terminal facilities, and related cargo handling and storage services for the export of the Company's coal and other commodities. They are arranging for the location of suitable bulk shipping vessels for the export of the coal at the seaport terminal facilities, chartering shipping vessels for the loading and transfer of the coal for export.
The Company is in direct negotiations with executives at several seaport terminals throughout the U.S. to secure terminal space for cargo handling and stevedoring services, un-loading the cargo from the Unit Trains to stockpile the coal, and loading the coal into the bulk shipping vessels for export.
Universal's President Vince M. Guest states, "We feel very positive about the rapid pace at which are moving forward with the international coal division. All of the major work has been completed by us, and now we are waiting for our consultants and representatives to complete their related tasks. The potential revenues and earnings from the sale of coal to the international markets opens up great opportunities for us. The Company also plans to sell petroleum and refined energy products to increase our revenues and earnings."