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