MOL News Highlights for 2013

Company Profiles, LNG, News — By on January 2, 2014 at 12:58 PM
Koichi Muto

Koichi Muto

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

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