India: Portside thermal coal stocks drop by 2% w-o-w

Thermal coal stocks at 21 Indian ports dropped w-o-w on December 18, 2023, according to data from CoalMint. During week 50 of 2023, thermal coal stocks at Indian ports stood at 14.57 million tonnes (mnt), compared to 14.83 mnt in week 49, edged up on weekly basis.

CIL's production rose by 9% y-o-y to 66 million tonnes (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).

Rashmi group witnessed an increase in stocks at Dharma Port during the reviewed week, reaching 0.39 mnt. Adani experienced a drop of 6% in coal stocks, reaching 1.16 mnt at Krishnapatnam Port.

At Tuticorin, Tata international recorded a significant surge, with stocks increasing by 41.60% to reach 0.29 mnt. At Paradip Port, stocks of JSPL surged by 58% to 0.098 mnt during the reviewed week.

Qty in mnt

Gangavaram Port recorded the steepest rise of 18% w-o-w, with coal stocks reaching 0.73 mnt, compared to 0.62 mnt last week. Stocks at Krishnapatnam saw 11% fall in coal stocks, totalling 1.44 mnt. Thermal coal stocks at key ports like Mundra (1.03 mnt) experienced a 15% decline w-o-w. At Dahej (0.77 mnt), stocks surged by 12% w-o-w, and stocks at Kandla (0.72 mnt) dropped by 7% during the reviewed week.

Qty in mnt

Adani Enterprise reported total stocks of 4.42 mnt, a 6% rise w-o-w, followed by Adani Power at 1.47 mnt, surged by 5% w-o-w. Agrawal coal (up 6%) and Tata international (up 10%) had stocks of 0.87 mnt and 0.74 mnt respectively. NTPC Tamil Nadu reported total stocks of 0.47 mnt, down by 14% w-o-w.