News Release

Wednesday, 28 December 2016

MOL News Highlights for 2016


- 'One Target, One MOL' -


TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced the company's top news stories for 2016 as follows:

1. 'Strengthening Management Foundation': Innovation to Meet the Challenge of Change

[ Moving ahead with Reforms ]

  • Implementing 'Business Structural Reforms'

    ‧ Significant downsizing of market exposure in Dry Bulkers

    ‧ Recording an impairment loss on owned vessels, route rationalization, and fleet optimization in the containership business

    ‧ Developing and executing a single-year management plan to promote structural reforms in place of the midterm management plan STEER FOR 2020

  • Agreement to integrate container shipping business with 'K' Line and NYK and start operation in April 2018 (October)

[ Strengthening Sales Capabilities by Promoting 'One MOL' ]

  • Establishing Dry Bulk Business Unit and Energy Transport Business Unit (February)
  • Appointing Chief Country Representatives for nations in Asia, Middle East, and Oceania, as well as Mexico and Brazil (April, December)

[ Strengthening Sales Capabilities by Differentiation ]

  • Launching 'ISHIN NEXT – MOL SMART SHIP PROJECT' (November)
    - Enhancing business capabilities and increasing corporate value -
  • Establishing New Smart Shipping Office (December)
  • Trial use of big data onboard an in-service vessel to promote growth of maritime cluster (February)
  • Cooperating with Yokohama National University to launch a joint study on practical use of AI to analyze big data for ocean shipping (August)

2. Deepening 'Portfolio Management' in Each Business

[ Dry Bulker Business Unit ]

  • Wood chip carrier C.S. Bright delivered - featuring environment-friendly specifications (January)
  • Naming ceremony for Iron ore carrier Shinzan Maru held - environment-friendly/safety-conscious next-generation vessel (November)
  • Anticipation of reaching target for downsizing of market exposure as a part of Business Structural Reforms

[ Energy Transport Business Unit ]

  • Delivering LNG carriers built in China (April, October)
  • Participating in coastal LNG shuttle transport project in Indonesia (May)
  • Concluding long-term charter contract for Uruguay LNG FSRU project (July)
  • Delivery of 3 methanol carriers equipped with methanol/heavy oil dual-fueled engines (April, September, November)
  • Concluding a contract for ocean transport with Shikoku Electric Power Co., Inc. - ordering a cutting-edge vessel to succeed the coal carrier Tachibana - (October)
  • Delivery of world's first very large liquefied ethane carrier - participating in liquefied ethane transport (November)
  • Entering the subsea support vessel business, providing capability to install subsea facilities in deep-sea oil/gas fields (November)

[ Car Carrier Business ]

  • Finalizing new hull design for the FLEXIE next-generation series of car carriers (April, November)

[ Containership Business, Port/Logistics Business ]

  • Announcing establishment of THE Alliance by six companies (May)
  • Upgrading Asia/South America East Coast service (February)
  • MOL Logistics: Subsidiary in Myanmar starts operation (May)
  • TraPac Los Angeles: Automated loading/unloading operations proceeding smoothly; installation of on-dock rail facility completed (October)

[ Ferry/Coastal RORO Ships, Associated Businesses ]

  • MOL Ferry: Announcing plan to enhance Tokyo/Karita route services with newbuilding RORO ships (October)
  • MOL Passenger Line: First co-sponsorship of 'Setouchi International Art Festival 2016' cruise with Mitsui Fudosan (October)
  • Daibiru: Shin Daibiru Restaurant & Shops fully open (May)

3. Aiming to 'become the World Leader in Safe Operation' and 'Environmentally Advanced Company'

  • Breaking ground on new maritime academy in Philippines (March)
  • 'MOL Body FIT Exercise' program receives 'MILT Best Practice Award for Seafarers' Onboard Safety, 2016' (October)
  • Receiving Marine Engineering of the Year award for methanol burned dual-fueled low-speed diesel main engine (July)

4. MOL Group's CSR/Social Contribution Activities: Connecting with the World

  • 'Marine Day' event: Car carrier tour held, about 200 families participate (July)
  • Holding events as a part of 'Sea and Japan Project' nationwide (Tokyo, Yokohama, Oita, etc.)
  • Supporting people afflicted by Kumamoto earthquake (April)
  • Efforts to aid quake-stricken areas of Ecuador (June)
  • Cooperation on international transport of:
    ‧ Fire engines to Paraguay (January)
    ‧ Used wheelchairs for children to Philippines (February)
    ‧ Mobile library vehicles to South Africa (March)
    ‧ Sporting goods to Ghana (November)
  • First company in ocean shipping industry to receive SMBC Nadeshiko Loans (January)

MOLpower.com uses cookies to improve the performance of this site and to provide better service to our customers.By visiting this site you agree to the use of cookies as stated in our  Cookie Policy.