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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, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
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