Coal news and updates

SCCL coal stock up 96% y-o-y

Pithead vendible coal stock of Singareni Collieries Company Ltd (SCCL) has jumped 96% year-on-year to around 4.92 million tons (mt) as of December 31, 2015, compared to 2.51 mt on the same day last year, courtesy the surge in production from its 47 mines this year, according to information available with ICMW.

On a month-on-month basis, coal stock was up 6.2% over 4.63 mt recorded for November 30, 2015, the data shows.

The higher stock is attributed to the increased production and not any logistics issues, according to company sources.

This is so because availability of railway rakes has improved over the past year and despatch has increased by almost 14% on an annual basis.

However, coal production by the company has far outstripped the growth in despatch, clocking a 22.7% rise year-on-year during April-December 2015. This has prompted the management to revise the target from 56 mt to 60.3 mt for the current year (2015-16).

Given the current scenario, coal stock at SCCL is expected to remain high and may rise in the last quarter of 2015-16, the sources said.

Source: ICMW