MOL Chemical Tankers Marks 50th Anniversary

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Mitsui O.S.K. Lines, Ltd., in a press release, has announced that its wholly owned group company MOL Chemical Tankers Pte. Ltd. marked the 50th anniversary of its founding on July 17, 2022.

Demand for parcel tankers

The 1960s saw a trend toward specialization in the ocean shipping industry, with vessels dedicated to specific cargoes. At the same time, demand began to grow for “parcel tankers” that can carry several cargoes simultaneously, such as vegetable oils and animal fats, which are transported in relatively small volume. In 1972, MOLCT’s predecessor, Tokyo Marine Co., Ltd. was founded.

Tokyo Marine became part of the MOL Group in 1996, and a wholly owned subsidiary in 2011. Later on, its headquarters functions were transferred to Singapore and the name was changed to MOLCT. MOLCT is currently striving into new fields such as tanker container and tank terminal business, in addition to its main chemical tanker business.

MOLCT, which has continued to face challenges and reforms in the 50 years since its founding, has grown into one of the world’s top three parcel chemical tanker operators, and today, about 370 employees of 23 nationalities support daily operations in 11 offices around the world.

Rolling Plan 2022

MOL set “Integrating MOL Group Strength to Achieve Growth Globally” as the key theme of its “Rolling Plan 2022” management plan. The group continually increases its organizational strength and delivers new values to all stakeholders, aiming to be a strong and resilient corporate group that provides new value to all stakeholders and grows on a global scale.

Click for a video of MOLCT’s history and its current business operations, produced in commemoration of the company’s 50th anniversary.

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Source: MOL

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