Overall, Wyoming-based CPE shipped 21.7 million short tons of coal for the quarter – 8% less year on year, while the quarterly exports to Asian markets were up 22% year on year to 1.1Mt.

“The combination of severe weather and weak rail service left us with lower shipments than we anticipated in the fourth quarter and full year,” CPE president and CEO Colin Marshall said.

“Despite the challenging external environment, our mines operated well and we successfully contained controllable costs and reduced capital expenditures.”

He said CPE was incrementally expanding export sales into Asia although the 2013 results were impacted by lower international market prices.

“Nevertheless, we see positive fundamentals for pricing both domestically and internationally as supply and demand come back into balance.”