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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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Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Australian Coal Association
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
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