Universal Bioenergy in Negotiations With Firms to Transport Coal to Asia and European Markets
IRVINE, Calif., April 3, 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 negotiations with several companies to arrange the logistics and transportation for the sales of coal to its customers in Asia and Europe.
The Company and its transportation consultants are negotiating terms and pricing with several railroad companies to ship the coal from the load-out facilities at the mines and transport it to the various seaport terminals. It takes about 104 railroad coal cars to ship 50,000 tons of coal. With an estimated 200,000 to 300,000 tons of coal sales per month, the Company will need 416 to 624 coal cars per month to ship the coal. The Company is also negotiating to secure terminal space at several seaports throughout the country. The coal will be shipped by rail to the ports and loaded onto the shipping vessels, then shipped to the final destination overseas.
Universal's President Vince M. Guest states, "Our marketing team and consultants are moving expeditiously to finalize the logistics and transportation to ship our coal to the foreign markets. Two major factors influence the sales price of coal. One is the price of coal at the mine, which includes the mines operating costs and quality of the coal. The other major factor is the cost of transporting the coal from the mine to the final point of use. So it's very important for us to secure the required railroad shipping and port terminal space to meet the needs of these customers. At an estimated $90.00 per ton, this could generate an estimated $18 to $27 million in additional monthly revenues and an estimated $2 to $3 million per month in gross profit."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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