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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, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
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- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
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