Thermal coal stock at Gangavaram Port for week 3 (9-13 Jan’22) fell by 9% w-o-w to 0.8 mn t, CoalMint’s stock data reveals. On a m-o-m basis, the same has declined by 33%.
Stock level at the port has been on a downtrend starting Oct’21 amid limited vessel arrivals due to significant volatility in imported coal prices. The port receives the largest volumes of coal from South Africa followed by Indonesia.
Lower cargo availability from South Africa is seen as a major factor behind the drop in vessel arrivals. Since the past few weeks, coal stocks at RBCT Port have reduced to levels of 1.9 mn t against an average of 5 mn t amidst the several logistic disruptions at Transnet, South Africa’s national rail operator.
As per CoalMint’s vessel line-up data, a total of 0.5 mn t of thermal coal vessels from South Africa arrived at Indian ports between 9-13 Jan’22. Out of this, no vessels were scheduled for Gangavaram Port. A total of 0.12 mn t is set to arrive at the port in the upcoming days.
The decline in coal stock at Gangavaram Port has resulted in reduced trading activity for ready stock while RB2 coal is being offered from vessels arriving in Feb’22, and are already being booked by traders at higher prices.
An analysis of party-wise data reveals, Adani Enterprise has the highest stock of 0.55 mn t at Gangavaram Port currently, followed by the combined stock of BSP, Indian Coke and Swiss Singapore at 0.25 mn t, down 11% w-o-w.
Total thermal coal stock at Indian ports falls slightly
The total thermal coal stock at India ports fell slightly by 3% w-o-w to 14.2 mn t as overall vessel arrival remained weak.
Vessel arrival from Indonesia was also hampered sharply in the last two weeks as the government of this country had imposed a coal export ban on 31 Dec’21.
However, the ban has been partially lifted, leading to some 37 vessels receiving clearance to depart. A total of 0.39 mn t of Indonesian coal scheduled to be arriving at Indian ports also has received clearance from the energy ministry, sources said.
Thermal coal stock at Vizag and Kandla have declined on a w-o-w basis, while that of Navlakhi, Mangalore have risen.
*Quantity in mn t
Party-wise thermal coal stock
Continuing the trend, Adani Enterprise, followed by Adani Power, has the highest quantity of thermal coal at various Indian ports. However, on a w-o-w basis, portside stock of Adani Enterprise fell slightly by 2%, while that of Adani Power rose by 10%.
Interestingly, thermal coal stock of Essar Steel declined the most — by 12% — w-o-w to 0.60 mn t at Magdalla Port in week 3.
*Quantity in mn t
Outlook
Amid volatile thermal coal market sentiments, vessel arrival from various origins is expected to remain subdued which may put further pressure on the existing portside thermal coal stock in the coming weeks.
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