India may import 1 million to 2 million tons of coal from Russia on surging demand
Reportedly, India imported 140 million tons of coals in the fiscal year 2011/12; furthermore, it’s predicted that country would imported 1 million to 2 million tons of coals from Russia for the first time due to the surging demand.
According to saying of one major Russian exporter, around 1 million to 1.2 million tons of Russian coal would be exported to India this year.
It’s known that most of India 's thermal coals were imported from Indonesia and South Africa since 2005.
However, the rising freight rate in the Arabian Sea and Indian Ocean region caused by Somali pirate’s attack on the bulk vessels in comparison of the low Pacific freight rates have prompted Indian importers to diversify their sourcing.
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