- East, west coasts show contrasting inventory movements
- Portside prices remain stable amid limited trade activity
India’s portside thermal coal inventories increased 3% to 12.22 mnt in week 40 from 11.86 mnt in week 39, as per provisional BigMint data. The improvement in arrivals and easing logistics following the implementation of GST reforms helped stabilise stocks, although buying interest remained moderate, with several participants assessing short-term freight and demand prospects.
East coast records mixed movement
On the eastern coast, Dhamra saw inventories rise by 30% to 1.09 mnt from 0.84 mnt, marking the highest weekly gain. Vizag followed with a 24% increase to 1.06 mnt from 0.86 mnt, supported by improved vessel discharge. Haldia also grew by 31% to 0.14 mnt from 0.11 mnt, while Kakinada almost doubled, rising 119% to 0.31 mnt from 0.14 mnt. However, Paradip edged down by 4% to 1.49 mnt from 1.56 mnt, and Gangavaram fell sharply by 38% to 0.11 mnt from 0.18 mnt. Gopalpur held nearly steady, easing 4% to 0.07 mnt.
Southern ports show divergent trends
In the south, Karaikal jumped by 91% to 0.21 mnt from 0.11 mnt, whereas Tuticorin slipped 4% to 0.71 mnt from 0.74 mnt. Mangalore declined 13% to 0.60 mnt from 0.70 mnt, while Krishnapatnam dropped 27% to 0.09 mnt from 0.12 mnt, reflecting limited restocking in the region.
West coast sees major adjustments
On the west coast, Mundra posted a strong rise of 27% to 1.20 mnt from 0.95 mnt, supported by new arrivals. Dahej rose 6% to 0.96 mnt from 0.91 mnt, while Hazira remained broadly stable, easing just 1% to 2.10 mnt from 2.11 mnt. In contrast, Kandla dropped 25% to 0.60 mnt from 0.80 mnt, and Tuna eased 11% to 0.19 mnt from 0.21 mnt. Magdalla was steady at 0.27 mnt, while Navlakhi increased 5% to 0.95 mnt from 0.90 mnt. Smaller ports reflected mixed movements — Goa surged 377% to 0.05 mnt from 0.01 mnt, while Bhavnagar and Jamnagar saw inventories decline by 99% and 90%, respectively, to negligible levels.
Company-wise movements
Among traders, Adani Enterprises saw a 1% rise in portside inventories to 3.42 mnt from 3.38 mnt, while Agarwal Coal reduced holdings by 8% to 0.87 mnt from 0.95 mnt, indicating cautious supply management amid slow festive trading.
Overall sentiment
Portside stocks rose this week amid better vessel arrivals, though overall activity stayed subdued. Fluctuating ocean freights and ongoing adjustments under the revised GST structure kept restocking measured, with most traders expected to re-enter the market more actively post-festive season.
Market overview
South African portside coal prices in India stayed stable last week, with RB2 at INR 8,200/t and RB3 at INR 7,100/t across Vizag and Gangavaram. Market activity remained muted due to the Dussehra holidays, with limited trade seen at INR 8,300/t ex-Vizag and Krishnapatnam.
Indonesian portside thermal coal prices in India held steady this week as festive holidays and weak industrial activity slowed demand. BigMint assessed 5000 GAR at INR 7,100/t at Kandla and INR 7,050/t at Vizag, while 4200 GAR stayed at INR 5,900/t and INR 5,800/t, respectively.
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