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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, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
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