FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Trump to Direct $500M to Coal Plants, Export Terminal Under Defense Production Act

By

President Donald Trump is set to announce $500 million in federal funding to support domestic coal-fired power plants and a coal export terminal, invoking the 1950 Defense Production Act, Bloomberg reported Wednesday, citing a White House official.

The plan includes $425 million for 13 existing coal plants and separate Energy Department grants for two new plants in Alaska and West Virginia, Bloomberg said.

An additional $75 million would support the proposed West Gateway export terminal in Oakland, California, which could ship up to 12 million tons of coal annually, the report said.

Beneficiaries include Duke Energy (DUK), Hallador Energy (HNRG), Oklahoma Gas & Electric, and a subsidiary of American Electric Power (AEP), according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Equities

NextNRG Selling Stockholder to Issue Up to 10 Million Shares

NextNRG's (NXXT) selling stockholder plans to sell up to 10 million shares of common stock, originally acquired through a private placement on May 25, the company said in a late Wednesday filing.The company will not sell any shares or receive any proceeds from the offering.

$NXXT
Equities

NextDecade Names John Zuklic as CFO

NextDecade (NEXT) has appointed John Zuklic as chief financial officer, starting July 6, the company said late Wednesday.Interim CFO Mike Mott will return to his previous role as senior vice president of enterprise transformation, the company said.Zuklic joins from Citgo Petroleum, where he served as CFO since 2020.

$NEXT
Equities

DHT Holdings Adds Third Hanwha Ocean VLCC for 2028 Delivery

DHT Holdings (DHT) said Wednesday it entered into an agreement with shipbuilder Hanwha Ocean for the delivery of a very large crude carrier in August 2028.The contract adds to the two Hanwha vessels the company secured in Q1 and will be funded through cash flow from operations, available liquidity and projected mortgage debt.

$DHT