Apr 17, 2011
Piracy spurs India coal buyers to diversify
Indian coal buyers struggling with Somali pirate attacks on ships from South Africa find taking longer routes of limited use and are turning to Australia and Russia for fuel to avoid the Indian Ocean completely.
Somali pirates, whose hijacking of oil tankers, bulk cargo ships and fishing vessels costs world trade billions of dollars a year are growing bolder.
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Source: Business Standard
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