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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Tuesday, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
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- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
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