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Issue #591

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Terminal Operators

Air Cargo Quarterly

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2014 Media Kit

MOL News Highlights for 2013

By: | at 03:58 PM | Breakbulk & Projects   | Liner Shipping  

Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the company’s top news stories for 2013 as follows:

■ Business Structural Reforms (BSR) executed (January – March); Single-year management plan “RISE 2013” started (April) Transferred sales and vessel operations of the dry bulker fleet (over 130 vessels) to Singapore to advance business expansion. ¥101.5 billion was allocated as cost of BSR during the fourth quarter of FY2012. Set forth the target of absolutely achieving profitability in FY2013 in the single-year management plan “RISE 2013”, and carried forward business model reforms (accumulating stable profits, scaling down free fleet).

■ Proactive business expansion

(LNG carrier)

Participated in a new LNG transport project for SINOPEC in China , and ordered 6 newbuilding vessels (April)

ŸConcluded a long-term transport contract for an LNG carrier with Osaka Gas and Kyushu Electric Power, and ordered a newbuilding
vessel (May)

ŸConcluded a long-term transport contract for an LNG carrier with Petronet LNG in India (December)

(Offshore business)

Participated in ultra-deepwater FPSO chartering project offshore Brazil (March, December)

Participated in deepwater FPSO chartering project for T.E.N. oil field offshore Ghana (September)

Participated in Uruguay LNG FSRU project, building the world’s largest FSRU (October)

(Dry bulker)

MOL Cape concluded a long-term transport contract with leading international mining group, Rio Tinto (February)

(Tanker)

Signed deal to build and charter a methanol carrier for WFS (December)

(Containership)

G6 Alliance started Trans-Pacific (Asia/North America East Coast) trade (May) and committed to expand the collaboration to Asia/North
America West Coast and Atlantic trades (December)

Established a subsidiary in Myanmar (February)

■ Incident involving the containership MOL Comfort, which suffered a crack amidships and sank (June)

■ Continual initiatives on seafarer training

Seafarer education and training programs in the Philippines marked their 20th anniversary. The second batch of students finished the cadet program (March)

Training ship Spirit of MOL retired—Mission accomplished, fully transferred to new CADET training program (March)

■ New initiatives on environmental protection

Won approval of installation for packaged container ballast water treatment system in cargo hold (January)

Completed installation of ballast water treatment system on VLCC (April)

ŸInstalled NOx-reducing Selective Catalytic Reduction (SCR) system on an MOL-operated vessel and began demonstration test
(July)

■ Social contribution activities

Supported disaster relief efforts for typhoon afflicted people in the Philippines (November—December)

■ Group-wide business expansion

ŸDaibiru Honkan Building (Nakanoshima, Kinta-ku, Osaka) completed (February)