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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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Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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