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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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Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
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