everyone, remarks, for full our quarter will fourth time operator. taking discuss today ask to my and and results us have additional Thanks, and you questions. After the Dale to results. thank then join to you'll detail, the our opportunity in review year XXXX Hello,
the fourth quarter drawdown improved customer a at and facilitate with rail Terminal. ended our McDufffie in the optimism, the inventories improvement to expectation of demand the performance strong transportation of with continuous We
and shipment to uncontrollable delays quarter. Unfortunately, several volumes drive lower higher-than-normal continue in inventories shipment fourth the
XXX% each by we on increase XXXX rail volumes As quarter our issues shipment costs previous transportation the to during and calls, performance and mentioned year. our the McDufffie impacted Terminal demurrage last caused
the us the orders demand ready the and This had customer XXXX. for ship, fourth year sales customer that but the We by volumes were below underperformance business guidance strong mechanical our from expectations partners our during in prevented resulted the quarter. realizing failures to full
a logistics, the at mix disappointing and our provided further news. Looking of quarter fourth encouraging outbound
best carrier stable of performance service barging quarter quarter in XXXX. throughout our our rail and has reliability movement On the the due into largely improvements was the and by experienced our system. weeks coal of The few rail to remained so year, side, consistent we the positive of the first
to are in level performance to to service expect forward see over time service return incremental historical the going improvements We order of levels. this as made
On the failures mechanical systems, the abilities. myriad such on been transfer disappointing larger mainly a that on McDufffie, of loading ship issues terminal, its its main The conveyor suffered equipment greatly impeded as our loaders. have as side, export mechanical operational as the concentrated well and
six to In approximately severe days weather. addition, fog was due heavy vessel movement interrupted and for December during
potential tons. of to we As end-of-year a shipping short approximately queues - fell result, by XXX,XXX XXX,XXX experienced and our longer-than-normal short vessel
In these McDufffie, January this issues. year, we with root partner, jointly initiated projects recurring causes the address of a series of to our
In expect personnel the of already and over other such addition, We've performance address. longer as projects, joint the we've quarters, fully significant coming efforts, both these the projects. resources with improve towards of progress equipment and take seen will to other we major recognizing operational to McDufffie while committed these some replacement that
our terminal to line diverting our decision Zero perspective, sales policy. a to with the abandon cost. terminals our From quarter volumes COVID we coals succession local also addition with to maintain forecast obvious being of a in some support out in alternative its our China's to fourth providing In played increase with minimal partner, the are market to
both customers reopening, of quarter China's and of loadings suppliers result fourth early part a of XXXX several Chinese we the saw XXXX. and in As with transactions the U.S. between
to benefit which also should critically important has steel have directly property these measures in improvement stimulate economic sector, come. several announced to activity tailwinds, industry. slow local the Despite its China's China been
XX combination remained has high to One per million a inflation. total reduction due to estimate production In year. of the capacity demand, a Atlantic close and low energy metric subdued steel tons Basin, prices
saw in also other blast geographies is Vietnam we Asian steel furnaces. price quarter, good have the seems countries, by increases pricing the its customers of been found capacity news modest, fourth announcing that several most support These price late The the with reductions of environment. are to idling albeit in in current the quarter have increases, our as pass whose During to margins several welcomed stressed successful. were attempts by on
volume From XXXX, a common the the With by production were logistics, track exporter, year-to-date Australia is largest challenges previous labor in remain on there exports row regions. growth. year-over-year to supply three deliver of negative and standpoint, trailing a supply a third November that world's across outbound largest the with theme year's a year X%,
from Canada XXXX. versus coal the a single-digit growth met during positive best pricing the remarkable. year should the in Exports by end is U.S. response The lack of volumes with itself ever year both and export supply
We rail expect the supply affecting European Russian coal, on issues ease high some performance and poor transportation port of such and inflation ban in XXXX. weather the disruptions, as to
XXXX several beyond We outlook continue constrain investment benchmarks sector an and global years long-term do demand with expect above improving supply drive lack pricing. pricing last the over to to the all of for
pig decrease from by Russia-Ukraine X.X% war, Association production decreased period, weak while the for decreases in lower production that in XXXX. by rest the in by economic decreased the conditions X.X%. The X.X% were iron and pig The primarily the production China Europe, of global Steel reported World iron of recently China. production driven world's recorded a
lower strict be of the to increase continued X.X%. year-over-year policies by was COVID India and depressed property with country impacted China's a production only markets.
to especially and customers due challenging demand. costs European due dealing low material energy margins quarter raw Our with compressed an and pricing had soft steel elevated to
rates idled operated blast at capacity. publications, industry several furnace some some and in As even cases reported producers production reduced by integrated
quarter ton. X.X million year Even was short $XXX CFR with was the fourth The sales fourth short primary XXXX. short fourth Australia. per $XXX volatile the the in that at quarter our per more was closed quite range PLV performed the of bound, tons we the the $XXX FOB pricing standpoint, quarter to $XXX ton. and year index, shipment the started volume quarter China closing a ton, Index short averaging of and least the year $XXX, per flat of From short index compared delays, at The averaged the well, delivering quarter ton at per
As delays could These during I have end the the previous quarter. in our for to delays. volume not fourth pushed shipment we sold the tons more shipment quarter the on by coal said XXXX, calls short if inventory XXX,XXX level of
take As performance the in to demand on market to our the working of we that inventories. reduce customer capital spot are tied positioned McDufffie opportunities Terminal we believe improves, well and advantage up
prior extended quarter, the a year the those added efficient for to million and additions people the well the primarily economic European Europe, downtime were Mine Our region, sales mines in headwinds strong into XX% XX% the XX% full sales America, South be the with Mine despite year in running including mines normal XXXX. by despite in facing the continued We and the the restarting of quarter and fourth into ran fourth into holidays. geography The of Asia. from for tons the XXXX. production. tons year at in of XXXX was X. fourth higher approximately same quarter fourth softening produced X.X the the Production XXX steel compared the the short resulted quarter X and to to tons full bulk year volume in were very the X.X at the million during compared The in short quarter
for reflects training employees of approximately you lower in the and employees environment. incident all XX% Our of the your the than I work and average to a continues to industry be programs rate our to a place safe our want thank to safety maintain dedication. say working and dedication special hard
This tons clean higher by past levels statistics in due some inflation has work significant strong year, higher helped our productivity workforce. we've to to quarter and drive work periods. the per appreciate safe compared the for These a while Over the represent productive to employee working historical have productivity employees environment. to offset a in the more of capitalized We operations, been safety continuing produced schedules, hourly mining experiencing. another maintain production trended well mines and revised increase manhour efforts
development. high million, During the spent was the fourth Creek quarter. CapEx spending record which development fourth the CapEx Mine on project. $XX $XX during quarter, was included spending Blue and $XX a $XX million on mine million we million
of X be We year. expect development will second of this completed half the by Mine
the We Creek, million in Blue the service XXXX. constructing good We represents for opportunity progress and slope, Warrior. growth approximately XXXX transformational development of this More shafts. a site, ventilation which $XX made in continue developing Blue on in shaft, we specifically, Creek invested
at spending activity next move on As both stages that the required increase activity and of over the we will Blue schedule, continue the two Creek to through years. substantially preliminary development for
project. discuss remain about stockholder I few significant the As to create potential value in excited will we this minutes, extremely through a
cash term. excess will our We growth in term expect cash Blue them the strong our in to benefit allowing in generation Creek Dale more returning to from to allocation to free over and investment stockholders, balance capital a the moment. long to flow near with speak continue
most in For or were lower delays. volume shipment than lower our year conclusion for strong exceeded the Except double our the XXXX adjusted strong operating EBITDA billion. previous EBITDA, flow previously targets we exceedingly nearly the due than posted outlined Despite XXXX, cash expectations that cash our as that sales discussed financial $X flow, which free quarter our in fourth financial Warrior, met an was of of for which adjusted delivered more sales results guidance. of the volume, to marked and record we
I our to detail. address will ask fourth quarter in greater now Dale results
