MOL News Highlights for 2012

Company Profiles — By on December 27, 2012 at 2:17 PM

MOLTOKYO — Mitsui O.S.K. Lines, Ltd. (MOL;  President Koichi Muto) today announced the company’s top news stories for 2012  as follows:

         MOL  anticipated a loss for FY2012, which will be the second consecutive year of red  ink, at the announcement of the financial results for the first half of FY2012  (October)

*       Posted  a \24.3 billion consolidated ordinary loss for FY2011 due to factors such as the  appreciation of yen, a steep rise in bunker prices, and fleet  oversupply.

*       Projected a loss in the FY2012  outlook. The company has been working to increase the use of slow steaming,   scale down the tramp fleet (scrapping/cold lay-up of 10-20 Capesize dry bulkers,   and scrapping of double-hull tankers), and promote other rationalization  efforts.

         Proactive business expansion in  various fields

*       Signed  VLCC pool agreement (January)

*       Launched Asia-Europe containership  service with G6 Alliance members (March)

*       Participates in a floating production, storage, and offloading system (FPSO) business  that is adopted for ultra-deep water  operations off  the coast of Brazil (March)

*       Signed  a long-term contract for two new LNG carriers with Kansai Electric Power Inc.  (June)

*       Transferred headquarters functions  of the containership segment to Hong Kong  (July)

*       Established Key Performance  Indicators (KPI) for containership business. Launched “Count On MOL” (March)

*       Expanding business in growth  markets: Established a subsidiary in Peru (April), launched weekly service to Myanmar (March)

     Initiatives to become the world  leader in safe operation

?       Introduced full-mission bridge  simulator —equipped with Japan’s first 360o  horizontal/downward view screen (June)

?       Upgrading education for  entry-level seafarers in the Philippines The first batch (84  trainees) of the Third Year Program graduated (March)

?       A new  double-hull tanker loading/discharging simulator was installed in the Philippines seafarer training center  (May)

     Initiatives on environmental  protection

*       Launched of the world’s first  newbuilding hybrid car carrier Emerald  Ace (June)

     Global  social contribution activities

*       Honored  by Japan’s Minister of Land, Infrastructure, Transport and Tourism for its  support activities after the Great East Japan Earthquake and Tsunami, including  visits by the cruise ship Fuji  Maru to disaster-stricken areas (July)

*       A  daycare center in the Philippines, built with donations  from MOL held its grand opening (November)

*       Earned  a commendation from the Philippine House of Representatives for its support of  relief efforts in the wake of the deadly typhoon on Mindanao (February)

      Group  company initiatives on business expansion

*       Tokyo  Marine Co., Ltd. transferred its business and ship operation functions to Singapore  (October)

*       Daibiru  Corporation started construction of NewShinDaibiruBuilding (temporary name) in the center of Osaka’s business district  (August)

*       Ferry  Sunflower Limited carries a centennial service, voyage of daytime, between Osaka and Beppu

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