Coal India posts first decline in annual shipments in 6 years

Coal India Ltd. posted the first decline in annual shipments in at least six years as demand from power producers weakened and its production was hit by heavy rains earlier in 2019. Shipments fell 3.8% in 2019 from a year ago to 580.8 million tons, according to Bloomberg calculations based on data from the state-run company dating back to 2013. Production slipped 2.2% to 582.8 million tons, the data showed.

On a monthly basis, shipments rose 1.9% in December from last year to 53.63 million tons, the Kolkata-based miner said late Wednesday. Output climbed 7.2% to 58.02 million tons. Coal India is the biggest coal-producing company in the world.

India’s power generation from coal is poised to shrink in 2019 for the first time in at least 14 years.