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