- Vizag, Kandla, Mangalore drive gains despite market caution
- Adani’s stocks drop, Agarwal expands inventories significantly
India’s portside thermal coal inventories inched up by 0.5% to 12.94 mnt in Week 48 (24-30 November), compared with 12.88 mnt in Week 47. There were divergent trends across ports, with strong recoveries at inland-linked terminals offset by drawdowns at major discharge ports. Mixed vessel arrivals and shifting dispatch patterns shaped weekly performance.
East coast: Vizag leads gains as Paradip softens
The east coast displayed uneven momentum w-o-w. Vizag rose 10% to 1.10 mnt from 1 mnt, supported by steady arrivals.
Dhamra increased 1.5% to 1.32 mnt from 1.30 mnt, reflecting consistent inflows.
In contrast, Paradip slipped 1.2% to 1.68 mnt from 1.70 mnt, and Tuticorin dropped sharply by 16.7% to 0.64 mnt from 0.77 mnt, due to stronger outward movement.
Kakinada climbed up by 12.3% to 0.40 mnt from 0.36 mnt, while Haldia increased 17.4% to 0.20 mnt from 0.17 mnt, as discharge rates improved.
Conversely, Krishnapatnam fell to 0.26 mnt from 0.32 mnt (-18.4%), Karaikal decreased to 0.22 mnt from 0.26 mnt (12.4%), and Gangavaram dropped to 0.11 mnt from 0.16 mnt (31.2%), weighed by slower arrivals.
West coast: Strong recoveries at Kandla, Mangalore offset declines elsewhere
West coast movements remained mixed w-o-w. Kandla jumped 24.3% to 0.58 mnt from 0.47 mnt, driven by fresh arrivals.
Mangalore surged 51.4% to 0.44 mnt from 0.29 mnt, signalling a notable rebuild in stocks.
Navlakhi increased 6.5% to 0.95 mnt from 0.90 mnt, and Mundra inched up by 0.8% to 0.92 mnt from 0.91 mnt. However, Hazira eased 2.3% to 1.87 mnt from 1.92 mnt, while Jamnagar declined by 9.5% to 0.29 mnt from 0.32 mnt.
Tuna fell sharply 32.1% to 0.14 mnt from 0.21 mnt, as dispatches exceeded arrivals. Magdalla edged slightly lower by 1% to 0.59 mnt (), indicating stable but soft intake.
Bhavnagar slipped to 0.17 mnt from 0.18 mnt (5.6%), and Muldwaraka eased to 0.06 mnt from 0.07 mnt (14.3%).
Company-wise update: Adani eases, Agarwal rises sharply
Adani Enterprises’ inventories declined 4.2% to 3.33 mnt from 3.48 mnt, as dispatches outpaced replenishment across its terminals.
Agarwal Coal increased stocks by 19.7% to 1.08 mnt from 0.91 mnt, signalling an aggressive restocking cycle led by opportunistic buying and improved arrivals.
Outlook
Portside inventories were expected to stay range-bound in the near term, with inconsistent vessel arrivals and cautious procurement keeping momentum balanced. Strong seaborne prices, firm South African offers, and fluctuating freight continued to shape sentiment, while traders awaited clearer pricing signals before committing to major restocking ahead of December demand.
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