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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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Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
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