India: Thermal coal stock at ports increase by 2.2% w-o-w on heavy rains resulting in limited trade

The stock at ports data maintained with CoalMint reveals that thermal coal stock at 21 major Indian ports increased by 2.2% w-o-w due to heavy rains in the eastern part of India. Amid increased moisture content of coal, there was limited buying interest especially at Gangavaram port in anticipation of a further fall in portside offers.

As on 15 Oct'20, thermal coal stock at Indian ports stood at 15.01 mn t against 14.7 mn t a week earlier (+2.2% w-o-w) and 14.3 mn t as on 1 Oct'20 (+ 4.9%). Around same time last year, thermal coal stock at Indian ports stood at 11.3 mn t.

---The highest increase of 100% was registered at Dhamra port with Tata International having 0.18 mn t of thermal coal stock followed by Rashmi Group at 0.096 mn t and Adani Enterprise at 0.087 mn t.

---Thermal coal stock at key ports like Gangavaram moved up by 0.76% (2.64 mn t). Whereas, stock at other major ports like Krsihnapatnam (1.40 mn t), Paradip (0.87 mn t) and Haldia (0.22 mn t), fell by 2.8%, 6.1% and 2.9% w-o-w basis.

---In case of western ports, thermal coal stock at Kandla port increased by 5.8% at 2.36 mn t. whereas at Navlakhi, the same moved down by 5.5% at 1.24 mn t, w-o-w basis.

Agarwal Coal has highest thermal coal stock at ports amongst traders

Importers' stock at ports as on 15 Oct'20

Qty in mn t

---Adani Power has the highest thermal coal stock at 2.36 mn t (combined) at Mundra, Hazira, and Dahej ports.

---It is followed by Agarwal Coal at 0.97 mn t with highest stock at Navlakhi (0.59 mn t) and Kandla (0.18 mn t) ports.

---Adani Enterprise has thermal coal stock of 0.77 mn t at various ports with highest stock at Navlakhi (0.23 mn t), Ganagavaram port (0.21 mn t), and Krsihnapatnam port (0.14 mn t).

---Tata International has total stock of 0.64 mn t with highest stock at Dhamra (0.18 mn t) and Paradip (0.13 mn t).

---Whereas, Swiss Singapore has combined stock of 0.53 mn t with majority stock at Krishnapatnam (0.27 mn t) and Kandla at (0.23 mn t).

Near-term Outlook

CoalMint learned from market sources that there is improved demand for thermal coal at Haldia and Paradip port and stock is depleting fast. The higher waiting period at both these ports is further reducing the coal stock at these ports.

On the other hand, no major buying is being heard at Ganagavaram port and coal stock there is likely to increase.

At the western ports, demand for thermal coal (especially that of Indonesian coal) has moved up, due to which any significant increase in coal stock there seems unlikely.