Support The Moscow Times!

India Starts Buying Russian Coal

India's surging demand for thermal coal will draw in 1 million to 2 million tons of Russian supply for the first time in 2011 to compete with South African and Indonesian coal, Indian importers and Russian exporters said.

Although Russian coal is likely to remain a minor part of India's projected 140 million tons of imports for 2011 and 2012, India has become a key growth market and has started to import Russian material for the first time this year, Russian exporters said.

So far this year, India's biggest trader importer, Adani Group, has bought two Capesize cargoes of Russian coal, a few smaller traders have booked several Panamax cargoes, and others are in talks for 2011 supply with Russian sellers.

"Around 1 [million] to 1.2 million tons of Russian coal could go to India this year," one major Russian exporter said.

Other Asian buyers such as South Korea and Taiwan will currently pay higher prices than India, he said, and China is also likely to pay more when buying resumes.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more