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