According to the vessel line-up data compiled by CoalMint Research, Indian non-coking coal imports have registered a 17% fall on the monthly basis. The country has imported 14.91 MnT coal in Nov’18 against a year-high total of 17.96 MnT recorded in Oct’18.
The lower imports in November are at odds with recent developments in India, as utilities and steel-makers have resorted to buying more from overseas to overcome domestic transport bottlenecks, especially at a time when the power plants are struggling to replenish current stock levels.
However, a 12% drop in conventional power generation during Nov’18 in line with beginning of the winter season have lowered the consumption rate at plants and consequently slowed down their appetite for imported coal.
Besides, it is possible that the importers had cut short their purchases in order to prevent them from making a loss in the free falling Indonesian coal market.
Adani Enterprises, Coastal Gujarat Power, Swiss Singapore, Adani Power, Agarwal coal and JSW Energy were among the top 6 major coal importers in Nov’18, but only JSW Energy had recorded a rise in imports on the monthly basis.
Apart from the monthly decline, Indian non-coking coal imports had noted a decent growth of 8% on the year from 13.77 MnT in Nov’17. While, imports during Jan’18-Nov’18 have gone past the sum of coal receipts made in CY17.
India’s non-coking imports in the 11-month period of CY18 has reached 161.17 MnT, rising 10% from 146.35 MnT recorded in the whole of CY17.
Major Coal Exporters:
Indonesian coal export to India had fell 14% M-o-M to 10 MnT in Nov’18 against 11.58 MnT in Oct’18, but were 6% higher on the year from 9.44 MnT in Nov’17.
South African coal supplies to India had dropped by a whopping 28% on the month to 2.4 MnT in Nov’18, also moving down 21% Y-o-Y from 3.03 MnT in Nov’17.
Australian low CV 5500 NAR coal has been available at a lower rate than its South African counterpart, which have drawn attention from Indian buyers in recent months.
Consequently, Australian coal export to India had slightly increased to 0.69 MnT in Nov’18 against 0.68 MnT in Oct’18, which notably was the only monthly rise reported among the various coal exporters.
US, was the third largest non-coking coal supplier to India in Nov’18. The country had exported 0.99 MnT coal during the month, down 5% M-o-M from 1.04 MnT in Oct’18.
Source: CoalMint Research | Quantity in MnT
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