India's coal import declines 29pc in April

The country's coal import dropped by 29.1 per cent to 18.65 million tonnes in April due to the lockdown to contain the spread of coronavirus infection.

The government had recently asked power generating companies to reduce coal import for blending purpose and replace it with domestic coal.

The comported 26.34 million tonnes (MT) of coal in April 2019, according to a provisional compilation by mjunction services based on monitoring of vessels' positions and data received from shipping companies.

Commenting on the coal import trend in April 2020, mjunction Managing Director and CEO Vinaya Varma said, "The prolonged lockdown across the world has impacted both demand and supply-side factors. Although spot prices have plunged to multi-year lows, tight liquidity situation has restricted volumes.

"However, there was sporadic buying by traders and consumers who anticipated phased easing of restrictions and a sudden spurt in post-lockdown industrial activity."