World News
MOL Restructures Dry Bulk Business
Mitsui O.S.K. Lines, Ltd (MOL) Friday announced plans to restructure its dry bulk business divisions through the establishment of two new business units as of April 1, 2016.
"MOL will restructure the dry bulk business divisions and establish the Dry Bulker Business Unit to most effectively implement business structural reforms to optimise the fleet portfolio and make more efficient use of management resources," explained the company.
The restructuring plans will also see the creation of an Energy Transport Business Unit, which is said to be intended to cater to diversified customer needs within energy-related industries.
MOL, noting that it manages its business divisions by ship type, says that to enhance its business performance and cost competitiveness, each business unit will work to strengthen its ties within the group as "One MOL" under direction of the unit senior executives.
Earlier this month, it was reported that, despite a "tailwind" from low bunker prices, MOL said that it expects to book a loss of ¥175.0 billion ($1.44 billion) for the full year ending March 31, 2016.
Last week, Ship & Bunker reported that MOL will be launching a trial use of big data technology on its vessels, aimed at improving vessel efficiency, safety, and reducing environmental impact, among other benefits.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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