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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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Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
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