The company, which is controlled by businessman Igor Zyuzin and came close to bankruptcy last year, circulated the final draft of a restructuring proposal among its creditors.
With some vessels waiting to load coal and iron ore outside Australian ports for over a month, key charter rates jumped to highest in more than three years.
For all the doom and gloom about the future of coal, the past two years have been a boom time for coal prices that's exceeded by their 2010 to 2012 peak.