Teck Resources Limited (NYSE:TCK) said coal sales will be down because capacity constraint problems at Westshore Terminals.
The problem will affect coal sales not only for the current quarter, but also for the full year, driving them down.
Estimates for coal sales in the third quarter have been downwardly adjusted to a range of 5.2 million tons to 5.5 million tons, in contrast to original estimates of 5.8 million tons to 6.2 million tons.
Coal sales for the calendar year were downwardly revised from 23.5 million tons to 24.5 million tons to 23 million tons to 23.8 million tons.
Teck is taking interim steps to move their coal as the temporary constraints continue to hurt the business, by seeking alternative terminals to move their coal.
Westshore Terminals said the problem should be mitigated for 2011, expecting all of Teck's deliveries to be loaded for the year.
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