India: Portside coal stocks rise 9% w-o-w on improved vessel arrivals

• East coast ports record sharp gains, mixed trends in west
• Adani, Agarwal Coal see inventory buildup before winter

India’s portside thermal coal inventories rose 9% w-o-w to 13.26 mnt in Week 41, up from 12.22 mnt in Week 40, supported by increased vessel arrivals and steady inflows at major ports. Restocking activity improved ahead of the winter demand phase, though trading volumes remained subdued amid festive holidays and limited industrial activity.

East coast sees notable gains

At the east coast, Dhamra’s stock rose 20% w-o-w to 1.31 mnt from 1.09 mnt, while Haldia jumped 71% to 0.24 mnt from 0.14 mnt. Krishnapatnam surged 184% to 0.25 mnt compared with 0.09 mnt, backed by quicker discharge rates. Paradip slipped 3% to 1.45 mnt from 1.49 mnt, and Gangavaram dropped 36% to 0.07 mnt from 0.11 mnt due to vessel delays. Vizag eased 3% to 1.04 mnt from 1.07 mnt, while Gopalpur remained nearly unchanged.

West coast trends mixed

On the west coast, Navlakhi rose 25% to 1.19 mnt from 0.95 mnt, and Magdalla increased 36% to 0.36 mnt from 0.27 mnt. Dahej grew 11% to 1.07 mnt from 0.96 mnt, and Kandla climbed 6% to 0.63 mnt from 0.59 mnt. In contrast, Mundra fell 5% to 1.15 mnt from 1.2 mnt, while Tuna dropped 34% to 0.12 mnt from 0.18 mnt. Pipavav and Goa posted sharp declines, falling 50% and 83% w-o-w, respectively.

Company-wise movements

Adani Enterprises’ inventories rose 8% to 3.68 mnt from 3.41 mnt last week, reflecting improved vessel inflows at key terminals. Agarwal Coal’s stock increased 16% to 1.02 mnt from 0.88 mnt amid restocking ahead of expected winter demand recovery.

Overall sentiment

Portside inventories improved on the back of stronger arrivals and restocking before the next demand phase. However, market activity stayed muted as buyers awaited clearer demand signals after the festive period. Stocks are likely to remain stable till mid-November before resupply momentum resumes.