India: Thermal coal stocks at Kandla Port rise 25% w-o-w as end-users directly book cargo

Stocks of thermal coal at Kandla Port saw the sharpest rise amongst all Indian ports, by 25% w-o-w to 2 million tonnes (mn t) in week 47 (14-18 Nov’21), CoalMint’s stock data reveals. The rise came against the backdrop of a sharp rise in inventory of several end-users who made direct bookings.

As per CoalMint data, coal stocks of Ultratech Cement rose to 0.42 mn t, up by 49% w-o-w as a capesize vessel from Mozambique made its way to the port last week. Stocks of India Coke and Power also recorded a rise of 22% w-o-w to 0.20 mn t, while that of Trafigura, and Gautam Freight rose to 0.90 mn t and 0.96 mn t, respectively.

Amid the recent decline in global prices, several end-users were heard directly bringing in vessels for captive consumption, informed market participants.

Stocks at Vizag Port also rose sharply to 2.5 mn t, up 23% w-o-w due to the rise in inventory of various importers, while stocks at Navlakhi Port were at 1.42 mn t, up 8% w-o-w.

Lower vessel arrival at some ports, however, pulled down coal stocks as several importers continued to delay procurement amid anticipation of prices falling further in the coming weeks.

Thermal coal stocks at Gangavaram fell to 1.35 mn t due to a 15% decline in stocks of BSP, Indian Coke, and Swiss Singapore and a 4% decline in stocks of Adani Enterprise.

*Quantity in mn t

Coal stocks at various India ports totalled 1.35 mn t, up 8% w-o-w in week 47.

Company-wise thermal coal stocks at ports

*Quantity in mn t

Stocks of Adani Power  were at 0.83 mn t at Hazira Port, at 0.61 mn t) in Dahej, and 0.16 mn t at Mundra.

Gangavram, Mundra, and Navlakhi ports anchored the highest quantity of thermal coal stocks of Adani Enterprise at 0.80 mn t, 0.44 and 0.46 mn t, respectively.