Westshore Terminals Income Fund - Q4 2008 distribution announcement

About this update from Westshore Terminals Investment Corporation

[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 16 /CNW/ - Westshore Terminals Income Fund (TSX: WTE.UN)\n(the "Fund") announced today that a cash distribution of $39,352,508\n(representing $0.53 per trust unit) will be paid on or before January 15, 2009\nto unitholders of record on December 31, 2008, as compared to $26,730,005\n(representing $0.36 per trust unit) for the same period in 2007.\n\n\nFor 2008, total cash distributions will be $1.80 per unit as compared to\n$1.16 per unit in 2007.\n\n\nFor the fourth quarter of 2008, Westshore anticipates that its tonnage\nthroughput will be approximately 5.3 million tonnes, roughly the same volume\nlevels shipped in Q4 2007. Tonnage throughput to December 31, 2008 is\nanticipated to be approximately the same levels as those shipped in 2007 at\n21.2 million tonnes.\n\n\nOn December 4, 2008, the Supreme Court of Canada dismissed Elk Valley\nCoal Partnership's leave to appeal application of the BC Court of Appeal\ndecision issued in favour of Westshore in April 2008. This decision supports\nthe arbitrator's decision, rendered in July 2006, in favour of Westshore,\nwhich determined that there was no basis to order a revision to the coal\nloading rates under the contract for coal shipped from the Elkview mine.\nAccordingly, the formula of determining the loading rate which has been in\nforce under the contract since 2000, continues for the remaining term of the\ncontract to March 2010.\n\n\n","length":1481,"tagName":"div"}]

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