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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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- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- White Energy Company Limited
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
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