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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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Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
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- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
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