India: Thermal coal stock at Gangavaram dips 7% w-o-w to 2 mn t

CoalMint’s stock report reveals that thermal coal stocks at Gangavaram Port have declined by 7% w-o-w to 2 million tonnes (mn t) in week 34 (15-22 Aug’21) due to the reduced inventory of a few importers and a lower number of vessels arriving at the port.

The inventory of key importer Adani Enterprise fell by 12% across major ports w-o-w to 0.75 mn t, followed by the combined 1.25 mn t stock of BSP, Indian Coke and Swiss Singapore.

Owing to a slight pick-up in portside trading activity, inventories of several importers reduced over the last two weeks. Number of vessel arrival at ports also remained limited  amid escalated imported thermal coal prices.

Amongst various traders and end-users, thermal coal stock of Mohit Minerals has recorded the highest decline of 18% w-o-w to 0.27 mn t.

Thermal coal inventory of end-users such as Ultratech Cement and India Coke and Power recorded a rise of 0.36 mn t and 0.27 mn t, up 67% and 22% respectively.

Mundra Port has highest stock of coal

Thermal coal stock at Mundra Port is the highest at 2.09 mn t. CoalMint’s stock report reveals that Adani Power accounted for the highest volume of stock at the port at 0.74 mn t.

Coal stock at Krishnapatnam, and Mangalore fell further to 1.13 mn t, and 0.21 mn t, down by 9% and 14%, respectively. The thermal coal supply scenario at southern ports continues to remain under pressure amid lower number of vessel arrival slated in the upcoming weeks.

CoalMint’s vessel line-up data reveals that a total of 0.54 mn t of thermal coal is set to arrive at major southern ports (including Krishnapatnam, Mangalore, Tuticorin, and Ennore) by 27 Aug’21 from Australia and Indonesia.

Total thermal coal stock at ports:

*Quantity in mn t

 Outlook

Amid lower number of vessels arriving at the ports due to elevated imported coal prices, coal stocks at major ports are expected to reduce further in the weeks ahead.