The timing could not have been better: Indian coal importers have been scouring for cargoes in a tight and expensive global market, and along comes an opportunity to access precious supply. Is the free trade deal between New Delhi and Canberra the answer to Indian coal buyers’ supply woes and the country’s widespread power crisis? The comprehensive free trade agreement – signed by India and Australia on April 2 – will remove the 2.5% import duty on Australian coal, which is likely to make such cargoes relatively more attractive against supplies from other leading exporters, such as South Africa. The trade pact has yet to take effect and is awaiting the Australian parliament’s approval. If approved, it could provide an opportunity for India to boost its coal imports, which fell 46.8% year on year to 3.08 million mt in the January-March period, data by trading firm I-Energy Natural Resources […]