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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Korean Ferry Sinking: Number Missing Increased Threefold

More than 300 people were missing after a ferry sank off South Korea, the coastguard said on Wednesday, with a three-fold increase in the number of passengers unaccounted

Samsung Heavy Takes Up 7 Container Ship Order

South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned.

South Stream Gas Pipeline Re-route via Turkey Possible

Turkish Energy Minister Taner Yildiz said on Wednesday that Ankara would consider the passage of the South Stream natural gas pipeline through Turkey if Russia made such a request.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.1017 sec (10 req/sec)