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Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
 Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications for U.S. coal market
The border between the United States and Canada is currently open for vaccinated travelers—but it may soon be closed to trainloads of American coal that pass through Canadian export terminals on their way to overseas markets.
In a late August announcement that drew little attention outside Canada, the governing Liberal Party pledged to ban all thermal coal exports from the country—whether the coal was mined in Canada or not.
The policy would extend the country’s existing efforts to phase out thermal coal: Canada has already halted approvals for new thermal coal mines and pledged to phase out coal-fired power by 2030. The export ban would be a major climate boon.
All told, a coal export ban could lead to roughly 13 million tons of thermal coal taken off the Pacific Rim export market, with the majority from Montana mines. For every ton of thermal coal not exported from Canada, long-term global coal consumption likely drops somewhere between 0.2 and 0.6 million tons due to market effects (less seaborne coal means slightly higher coal prices and slightly lower consumption). Doing the math—a ton of Montana coal releases about 2 tons of carbon dioxide, and cars release 4.6 tons of CO2 annually—Canada’s coal export ban would have the same climate impact as permanently removing between 1 million and 3 million cars from the road.
Despite the outsized benefits, the policy would have relatively modest (though locally concentrated) impacts on Canadian jobs. Thermal coal is primarily exported through just two export facilities: Ridley Terminals, just south of the Alaska border, and Westshore Terminals, about a mile north of the Washington border. Canada has only one export-oriented thermal coal mine, the Vista coal mine at the foot of the Rocky Mountains in Alberta.
For most of the past decade, Ridley Terminals handled between 2 million and 3 million metric tons of thermal coal annually, although thermal exports boomed to 5.2 million tons in 2020, largely due to the opening of Vista.
But Vista has struggled both financially and operationally. The mine temporarily shut down in February due to an engineering error. Its mining waste system had failed and the company couldn’t obtain a permit to expand its tailings ponds. In April, the mine’s parent company, Coalspur, found itself overwhelmed by debts, admitting that it was “insolvent” and that it urgently required bankruptcy protection. Meanwhile, Coalspur and Ridley sparred over shipping costs, and the Vista mine eventually shifted all of its shipments south to Westshore. Amid the turmoil, thermal coal exports through Ridley have collapsed to almost nothing, even as shipments of metallurgical coal and other commodities through the terminal have remained strong.
Despite Vista’s shift to Westshore, the southern terminal has been angling away from thermal coal. Jim Pattison, the car salesman-turned-billionaire who controls Westshore, wants to transition its operations away from thermal coal and into potash “as rapidly as we can,” and the terminal has already signed an export deal with a new potash mine in Saskatchewan. Over the past decade, Westshore has shipped more than twice as much metallurgical coal as thermal coal, and the vast majority of its thermal coal shipments originated from U.S. mines, particularly the Spring Creek and Signal Peak mines in Montana. As a result, Westshore’s shift from U.S. thermal coal to Canadian potash will likely be a net boon for Canada’s mining sector.
There’s reason to believe that ending thermal coal exports would have broad political support. Canada’s New Democratic Party is also on record as being “committed to ensuring that we end the export of thermal coal.” Even in coal-rich Alberta, roughly 90 percent of Canadians have reservations about expanding coal mining. A ban on thermal coal exports through or from Canada is a sign that even as prices for the mineral soar, trainloads of thermal coal are likely to be physically and metaphorically stuck at the station.
Clark Williams Derry (cwilliamsderry@ieefa.org) is an IEEFA energy finance analyst.
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Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
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