India: Thermal coal stock at Gangavaram Port falls 17% to 1.60 mn t

CoalMint’s stock data reveals that the thermal coal stock at Gangavaram Port in the third week of October (10-17 Oct’21) stood at 1.60 mn t, down by 17% against the closing stock in the third week of September.

The sharp rise in global thermal coal prices have resulted in lower vessel arrival at Indian ports. This is coupled with domestic coal shortage in India.

In the last one month, portside trading activity of imported coal has gained momentum as the government prioritised domestic supplies to the power sector, leaving the non-power sector with little option than to procure imported coal from ports.

The thermal coal stock of Adani Enterprise during the said period fell to 0.70 mn t, down 16% m-o-m while the stock of others fell to 0.9 mn t, down 18% m-o-m.

Thermal coal stock at Haldia port witnessed the highest correction of 41% on a m-o-m basis at 0.20 mn t, in the third week of October. This is because the port can handle only Supramax vessels and the escalated freights rates have made buyers avoid import bookings at Haldia port.

*Quantity in mn t

The total thermal coal stock at Indian ports have seen a marginal rise of 2% m-o-m to 12.5 mn t in the third week of October.

Party-wise thermal coal stock at ports

*Quantity in mn t