The result was 181% worse than the $127.6 million net loss made in the corresponding period of 2012, although the recent quarterly results included an income tax charge of $205 million.

On an adjusted basis, the net loss for the recent quarter was $115.2 million – a 178% bigger loss year on year, with Alpha blaming lower prices and shipments of metallurgical and thermal coal.

The American coal producer’s total coal shipments were 86.9 million short tons for 2013 – 20% lower than 2012, while its metallurgical coal shipments of 20.1Mt were not far off the 20.3Mt shipped in 2012.

Despite the tougher times ANR said the outlook for thermal coal was more “constructive” compared with a few months ago.

In terms of metallurgical coal, ANR is expecting prices to rebound in the latter part of 2014 and for this to continue into 2015.

“At current spot measurements in the high $120s [per tonne for hard coking coal], a significant portion of global metallurgical production is uneconomic,” ANR said.

“If present market indications were to continue, additional production will be driven out of the market.”

ANR shares on the New York Stock Exchange closed at $5.06 on Wednesday, 20c down for the day.