Indian coal Imports at 12 major ports has fallen 10% Y-o-Y during the first 6 months of the current fiscal FY18, according to the data provided by Indian Port Association. Total coal import during Apr’17-Sep’17 period stood 66.102 MnT against 73.393 MnT coal imported at the ports during the Apr’16-Sep’16 period.
Thermal and Steam coal shipments during the 6-month period fell 16% Y-o-Y to 41.313 MnT, while Coking coal and other coal shipments rose 3% Y-o-Y to 24.789 MnT during the same period.
The fall in coal import should come as a good sign for the Government’s decision to promote domestic coal in order to reduce imports as well as saving considerable amount of foreign exchange for imports. However, independent credit rating company ICRA Ltd has raised concerned that the decline in coal imports may hurt long-term return from the ports in the absence of diversification into other cargoes.
The overall volume growth at the 12 major ports stood mere 3.24% during Apr’17-Sep’17, even when Iron Ore imports (including pellets) picked up 23.48% during the same period.
Coal Imports in Sep’17:
Total coal imports at the ports increased 12% M-o-M to 10.464 MnT in Sep’17, as demand for restocking picked up after the monsoon period. Thermal coal imports wer up by 12% M-o-M to 6.185 MnT while Coking coal imports at the ports increased 7% M-o-M to 4.279 MnT in Sep’17.
Paradip port handled the highest coal shipments during the month followed by Ennore, Vizag , Kolkata and Mormugao port.
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