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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, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
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- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
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