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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, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
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