News Release

Friday, 03 October 2014

MOL Announces merger of Group Companies, Upgrade of Bridge Simulator


Adding DPS and Enhancing Safe Operation by Integrating Expertise through merger


TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the merger of MOL Marine Consulting, Ltd. (MOLMC) and MOL Cable Ship Ltd. effective October 1, 2014. The new company, called MOL Marine Co.,Ltd., will continue to develop the businesses pioneered by its two predecessors.

The merger will integrate both companies’ extensive expertise in marine technology and ship management, enabling the development of business operations that will contribute to the MOL Group as it forges ahead to become the world leader in safe operation.

At the same time, MOLMC announced an upgrade to one of its two owned simulators. The simulator was upgraded with an enlarged screen that replicates the field of vision from the bridge as well as the addition of a Dynamic Positioning System (DPS).

MOL has positioned the offshore business as the core of its operations to achieve “solid growth through innovative changes,” as set forth in the midterm management plan STEER FOR 2020. Felds such as a floating production, storage and offloading (FPSO)*1 and Floating Storage and Regasification Unit (FSRU)*2 operation require advanced ship-handling technologies that rely on DPS. The upgraded simulator, which simulates a vessel equipped with DPS, can simulate any situation and provide practical training in that situation. This is the first step toward realizing the MOL Group’s goal of “becoming the world leader in safe operation.”



<Outline of new company>

Name

:

MOL Marine Co.,Ltd.

 

:

3-18-1 Kaigan, Minato-ku, Tokyo

Paid-in capital

:

\100 million (MOL 100%)

President

:

Soichi Hiratsuka

No. of employees

:

77

Main business

:

Consulting services related to offshore business,

ship management

 

(*1) Crude oil is produced offshore, stored in the FPSO tanks, and discharged directly into tankers for transport.
(*2) FSRU has the capability to regasify LNG offshore and transport the gas under high pressure to offshore pipelines.