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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, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
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- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
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