MOL Announces Shipbuilding Program

Thursday, April 05, 2007
Mitsui O.S.K. Lines, Ltd. announced a major expansion of the company's iron ore carrier fleet, with a proposal to launch 44 new vessels. The move is part of MOL's growth strategies in the new midterm management plan MOL ADVANCE, which began on April 1. MOL ADVANCE focuses on the allocation of management resources in growing fields of the ocean shipping industry. MOL expects production of crude steel will continue to grow, particularly in China, where major players in the industry are restructuring and integrating their operations. As a result, demand for the transport of raw materials for steel will also increase. As a leader in worldwide ore carrier operators, MOL is expanding its large-scale fleet with various types of vessels to meet diverse customer needs. The company has already signed long-term contracts for half of the 44 vessels to be newly built. MOL continues to negotiate contracts, and its target is to have 60% of the all new carriers sail under long-term agreements. MOL's iron ore carrier fleet, 118 including Cape size and Panamax vessels as of March 31, 2007, will increase in total about 150 vessels by March 2013, including about 120 Cape size carriers and about 30 Panamax ships. Source: Shipping Times
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Naval EXPO Coming to Washington

For the first time ever, the general public will be admitted free to the Naval Future Force Science and Technology EXPO general exhibit hall Feb. 4-5 where they

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

 
 
Maritime Contracts Maritime Security Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1371 sec (7 req/sec)