- Gains in east coast port stocks lift overall volumes
- Adani Enterprises’ inventories climb up by 3.8%
India’s portside thermal coal inventories rose marginally by 0.3% w-o-w to 12.88 mnt in Week 47 (17-23 November), compared with 12.84 mnt in Week 46 (10-16 November). The overall stability masked sharp variations across major ports, with the east coast recording selective gains while the west coast witnessed declines at several ports. Improved movement at certain east coast terminals and strong arrivals at Mundra helped support overall volumes, even as multiple ports saw drawdowns due to steady dispatches.
East coast inventories rise despite mixed movements at ports
On the east coast, ports witnessed mixed trends, though, overall, thermal coal inventories showed a slight uptrend. Inventories at Paradip rose 1% w-o-w to 1.70 mnt from 1.68 mnt, backed by consistent vessel arrivals. Vizag increased 11.6% to 1.00 mnt from 0.89 mnt, marking a clear recovery in cargo inflow. Krishnapatnam surged 249.4% to 0.32 mnt from 0.09 mnt, driven by renewed unloading activity.
In contrast, Dhamra fell 7.1% to 1.30 mnt from 1.40 mnt, while Tuticorin declined 10.9% to 0.77 mnt from 0.87 mnt. Haldia dropped 19.6% to 0.17 mnt from 0.21 mnt, and Karaikal decreased 20.3% to 0.26 mnt from 0.32 mnt. Gopalpur slipped 7.7% to 0.04 mnt from 0.05 mnt, whereas Gangavaram improved 13% to 0.16 mnt from 0.14 mnt.
West coast trends uneven amid shifting inflows
On the west coast, Hazira dipped 2.6% w-o-w to 1.92 mnt from 1.97 mnt, reflecting softer replenishment. Navlakhi fell 6.7% to 0.90 mnt from 0.96 mnt, and Dahej declined 3.7% to 0.96 mnt from 1.00 mnt. A sharper 30.1% fall was seen at Mangalore, with stocks at 0.29 mnt against 0.42 mnt, and Jamnagar, down 11.2% to 0.32 mnt from 0.36 mnt.
However, several ports strengthened: Mundra rose 32.4% to 0.91 mnt from 0.69 mnt, reflecting strong vessel arrivals. Kandla increased 10.1% to 0.47 mnt from 0.43 mnt, while Magdalla slipped only 0.7% to 0.59 mnt from 0.60 mnt. Tuna increased 16.5% to 0.21 mnt from 0.18 mnt and Muldwarka rose 16.7% to 0.07 mnt from 0.06 mnt.
Company-wise update
Adani Enterprises’ inventories rose 3.8% to 3.48 mnt from 3.36 mnt, supported by higher arrivals across its terminals.
Agarwal Coal’s stock decreased by 16.5% to 0.91 mnt from 1.08 mnt, with dispatches outpacing replenishment.
Market update: South African, Indonesian thermal coal prices
South African thermal coal prices at Indian ports remained firm w-o-w, with RB2 rising by INR 100/t to INR 8,400/t ex-Paradip. Meanwhile, prices remained stable at INR 8,350/t in Vizag and INR 8,400/t in Gangavaram. RB3 stayed flat across the east coast. FOB offers for 5500 NAR held at $76-77/t, as tight supply and bulk buying from South Korea and Japan lifted the market. Freights increased to $15.5-16/t.
Portside Indonesian coal prices in India were mostly unchanged w-o-w, supported by firm seaborne benchmarks but restricted by weak local procurement. BigMint assessed 5000 GAR at INR 7,200/t in Kandla and INR 7,100/t in Vizag, while 4200 GAR remained at INR 5,850/t and INR 5,750/t. The 3400 GAR grade inched up to INR 4,600/t at Navlakhi.
Outlook
Imported coal inventories are likely to remain range-bound in the near term as vessel arrivals stay inconsistent across coasts and traders continue cautious procurement. Firmer seaborne markets, stronger Asian demand, and elevated South African offers may keep portside sentiment steady, although any correction in freight or FOB levels could influence restocking trends towards early December.
Leave a Reply