MOL to Establish New Business Units, Restructure Dry Bulk Business Division

posted by AJOT | Feb 26 2016 at 08:10 AM | Maritime | Liner Shipping

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL) today announced plans to establish two new business units. The Dry Bulk Business Unit and the Energy Transport Business Unit and restructure its dry bulk business divisions effective April 1, 2016. The restructuring will not affect the company’s disclosure of financial results by segment. 1. MOLwillrestructurethedrybulkbusinessdivisionsandestablishtheDryBulker Business Unit to most effectively implement business structural reforms to optimize the fleet portfolio and make more efficient use of management resources. In addition, the company will establish the Energy Transport Business Unit as an organization that manages business divisions by ship type, to precisely meet diversified customer needs in energy-related industries. Each business unit will deepen its ties within the organization as “One MOL” under the direction of the unit senior executives to enhance business performance and cost competitiveness, while proposing and providing optimal transport services to customers. 2. Establishment of Business Units (Newly established units are underlined)

Name	Dry Bulk Business Unit	Energy Transport Business Unit
Components	Dry Bulk Business Planning & Co-ordination OfficeDry Bulk Carrier Division (A) Dry Bulk Carrier Division (B) Dry Bulk Carrier Supervising Office	Energy Business StrategyOffice Tanker Division Tanker Safety Management Office Steaming Coal Carrier Division LNG Carrier Division Offshore and LNG Project Division LNG Safety Management Office

3. Organizational Restructuring (Main cargoes in parentheses) Divisions before restructuring