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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, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Tuesday, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
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- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
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