Indian imports of S.Africa coal seen rising in 2009

Cape Town, Feb 5 (Reuters) - Indian imports of South African coal are likely to grow to 9-10 million in 2009 from 8 million tonnes in 2008 due to strong demand and lower coal prices, Indian traders said on Thursday.

Speaking on the sidelines of the McCloskeys Coal Conference in Cape Town, Kaamill Fareed, Senior Manager of Indian importer Coal and Oil, said demand for South African coal has revived significantly now that prices have fallen to around $70.00 a tonne FOB Richards Bay from a high of $140.00 in September.

More »