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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, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
Thursday, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
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- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
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