Bellingham coal port: One financial giant exits, another enters

Wednesday, January 8, 2014 - 9:46am

Ownership of the proposed coal port at Cherry Point north of Bellingham shifted abruptly Tuesday, with a Goldman Sachs subsidiary dropping out and a major Mexican businessman stepping in.

The developments led opponents of the proposed Gateway Pacific Terminal to point to questions about the financial viability of exporting coal for power generation in Asia. But the supporters of the project appear to be moving forward.