China’s biggest coal firm set to boost exports

HONG KONG: China Shenhua Energy Co may boost coal exports as much as eight-fold as weakening domestic demand and stricter environmental rules force the company to look to overseas buyers.

The country’s biggest producer of the fuel may export 5 million to 10 million tonness of high-quality thermal coal this year to Japan and South Korea, according to vice-chairman Ling Wen. The company shipped 1.2 million tonnes last year, according to its annual report. It’s also considering entering the nuclear power business and expanding non-coal cargo over its railways as it seeks new ways to generate profit.