Coal news and updates

‘Budget, coal auctions to shape coal imports’

February 26: Policies adopted by the Union government in the upcoming Budget and the on-going e-auction of coal blocks are likely to shape coal imports via Mundra and other Indian ports in the coming days, a senior official from the port told ICMW.

“At present, numbers of coal cargoes at the port are at a low ebb. The main reason is that importers are in ‘wait-and-watch’ mode,” he said.

According to data available with ICMW, coal and coke imports via Mundra fell 5.43% to 3,102,356 tons in January 2015 against a volume of 3,280,445 tons in December 2014.

He also highlighted that the policy regarding the import duty on coal in the upcoming Budget is also important.

“Another reason that might lead to lower imports is the lower growth of infrastructure projects,” he added, “There is a possibility that a number of new power plants will boost demand in the future but right now they are under construction. Hence, demand of coal is not there at present.”