TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) 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)
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Source: MOL
