This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Norfolk Southern Celebrates 50 Years Of World-class Service To Global Coal Market With Pier 6

NORFOLK, Va., Sept. 18, 2013 /PRNewswire/ -- Norfolk Southern today commemorated the fiftieth anniversary of the original dedication of Pier 6, its coal transloading facility in Norfolk, with a ceremony at Lamberts Point, where the railroad has been transferring coal directly from rail cars to ships for export for 130 years.

Pier 6

Pier 6 was completed in July 1963 and formally dedicated Sept. 18 that year. It was designed and built primarily to load ships bound for steel mills around the world with high-quality, metallurgical coal from the central Appalachian coal fields. It was then, and remains today, the largest and fastest coal transloading facility in the Northern Hemisphere and continues to dominate the U.S. export coal market.

Today's ceremony included remarks by Superintendent of Terminals Jeff Yates, retired Senior Vice President-International Bill Bales, retired Senior Piermaster Bob Welch, T. Parker Host CEO David Host, Norfolk Mayor Paul Fraim, Virginia Governor Bob McDonnell, and Norfolk Southern CEO Wick Moorman.

"Pier 6 was an engineering marvel 50 years ago, and it still is today," Moorman said. "No facility in the world provides the level and quality of service to the global metallurgical and thermal coal markets that Pier 6 does. We have every expectation that it will continue to fill that very large niche for decades to come."

Pier 6 is unique in its ability to blend coal from different sources to precise formulas as it is being loaded onto ships. It achieves this by dumping coal directly from rail cars into a conveyor system that feeds directly into ships' holds, in contrast to other facilities that store coal on the ground rather than in rail cars. This is a valuable service to receivers of metallurgical coal, who have exacting blend requirements and can receive the coal ready to use off the ship. Pier 6 also serves the thermal coal market.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs