India: Portside thermal coal stocks dip 8% w-o-w

Thermal coal stocks across 21 Indian ports dropped by 8% w-o-w on 26 December, 2023, according to data from CoalMint. During week 51 of 2023, thermal coal stocks at Indian ports stood at 13.41 million tonnes (mnt), compared to 14.57 mnt in week 50, reflecting a decrease of 3% w-o-w.

CIL's production rose by 9% y-o-y to 66 mnt in November 2023 as against 60.7 mnt in November 2022. Notably, the company's total production in financial year 2024 (FY'24) (April-November) recorded at 460 mnt, significant rise as against 412.6 mnt in FY'23 (April-November).

Simhapuri Energy witnessed a drop of nearly 28% in stocks at Krishnapatnam Port during the reviewed week, reaching 0.073 mnt. Similarly, Feegrade & Co. Pvt Ltd experienced a drop of 19% in coal stocks, reaching 0.08 mnt at Dhamra Port.

At Paradip, Shyam Metallics recorded a significant surge of fourfold, with stocks to reach at 0.15 mnt. At Mundra Port, stocks of Shree Cement dropped by 41% to 0.08 mnt during the reviewed week.

Qty in mnt

Gangavaram Port recorded a rise of 29% w-o-w, with coal stocks reaching 0.72 mnt, compared to 0.77 mnt last week. Coal stocks at Mundra and Hazira (Adani) ports dropped by 8% and 4%, totaling 0.95 mnt and 0.96 mnt, respectively. Thermal coal stocks at key ports like Paradip (1.36 mnt) experienced an 8% increase w-o-w. At Dahej (0.72 mnt), stocks decreased by 7% during the reviewed week.

Qty in mnt

Adani Enterprise reported total stocks of 4.50 mnt, a 2% rise w-o-w. Adani Power reported total stocks at 1.43 mnt, reflecting a 3% decrease w-o-w. Agrawal Coal (down by 20%) and Tata International (down by 40%) had stocks of 0.70 mnt and 0.44 mnt, respectively. Meanwhile, Tata Steel reported total stocks of 0.42 mnt, down by 8% w-o-w.