MOL in Restructuring Excercise
Japanese shipping major Mitsui O.S.K. Lines (MOL) has unveiled a number of new restructuring measures effective April 1, 2020.According to a press release, the marine transportation provider intends to establish three new divisions and integrate its two tanker divisions to achieve synergy.MOL will establish the Offshore Gas Project Division as an organization focused on businesses related to the LNG field in energy value chains (FSRU projects, LNG bunker vessel project, etc.) to accelerate the enhancement of the offshore business, in which the company is concentrating the investment of management resources, as set out in Rolling Plan 2019.The Offshore Project Division shall have specific responsibilities in crude oil fields such as FPSO projects…
China: Coal Imports to Stay Steady in '14
China's imports of coal in 2014 are expected to remain at the same level as last year, with demand growth slowing and the domestic market already well-supplied, a senior energy official said on Thursday. China imported 267 million tonnes of coal for the whole of 2013, up 14 percent on the year, with many buyers seeking out cheaper overseas supplies. Ren Lixin, director of the coal department at the National Energy Administration (NEA), told an industry conference that oversupply also remains a problem for a sector struggling with slowing demand and a campaign by the government to switch to less polluting energies. Oversupply was reflected in China's coal inventories…
China to Close Nearly 2,000 Coal Mines
China will close 1,725 small-scale mines with a total capacity of 117.48 million metric tons in 2014 as part of its program to phase out low-quality coal production, its energy administration said on Friday. Smog-hit China has been desperate to reduce coal consumption, a major source of pollutants, including hazardous airborne particulate matter in the country's cities. Beijing hopes to close old and depleting mines in the east and consolidate output in a series of "coal energy bases" in remote parts of the country, including the vast northwestern regions of Inner Mongolia and Xinjiang. The National Energy Administration said in a notice…
