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India Imported 10.3 Million Tons Coal in April, Interocean Says |
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India, the world’s third-largest coal user, imported 11 percent less of the fuel in April compared with the previous month, shipping data show.
Buyers led by Adani Enterprises Ltd. (ADE), Bhatia International Ltd., Tata Power Co. (TPWR) and Steel Authority of India Ltd. (SAIL) received 10.3 million metric tons of steam and coking coal via 22 of the 27 ports listed by Interocean Group, a New Delhi-based ship broker that provided the information. March imports were 11.6 million tons.
The country imported 7.8 million tons of steam coal and 2.3 million tons of coking coal, Interocean data show. The Mundra port on the western coast, operated by the Adani Group, received the highest volumes of 1.3 million tons. Gangavaram, Paradip and Krishnapatnam, all on the eastern coast, received 888,736 tons, 838,867 tons and 619,823 tons, respectively, the report showed.
Shipments came from countries including Indonesia, Australia and South Africa, while state-owned Steel Authority of India and LMJ Industries bought cargoes from the U.S., according to the data. BGH Exim and JSW Group imported from Mozambique at Kandla and Goa, it showed.
Power-station coal at Australia’s Newcastle port, an Asian benchmark price, fell 1.4 percent in the week ended May 18 to $96.95 a ton, according to the globalCOAL NEWC Index.
Source : bloomberg.com
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