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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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- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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