MOL's Top News Highlights 2013

MarineLink.com
Thursday, January 02, 2014
Cracked containership MOL Comfort (Photo courtesy of PTI )

Mitsui O.S.K. Lines, Ltd. has announced the company’s top news stories for 2013 as follows:



■ Business Structural Reforms (BSR) executed (January – March); Single-year management plan “RISE 2013” started (April)

  • Transferred sales and vessel operations of the dry bulker fleet (over 130 vessels) to Singapore to advance business expansion. ¥101.5 billion was allocated as cost of BSR during the fourth quarter of FY2012.
  • Set forth the target of absolutely achieving profitability in FY2013 in the single-year management plan “RISE 2013”, and carried forward business model reforms (accumulating stable profits, scaling down free fleet).


■    Proactive business expansion
(LNG carrier)

  • Participated in a new LNG transport project for SINOPEC in China , and ordered 6 newbuilding vessels (April)
  • Concluded a long-term transport contract for an LNG carrier with Osaka Gas and Kyushu Electric Power, and ordered a newbuilding vessel (May)
  • Concluded a long-term transport contract for an LNG carrier with Petronet LNG in India (December)

(Offshore business)

  • Participated in ultra-deepwater FPSO chartering project offshore Brazil (March, December)
  • Participated in deepwater FPSO chartering project for T.E.N. oil field offshore Ghana (September)
  • Participated in Uruguay LNG FSRU project, building the world’s largest FSRU (October)

(Dry bulker)

  • MOL Cape concluded a long-term transport contract with leading international mining group, Rio Tinto (February)

(Tanker)

  • Signed deal to build and charter a methanol carrier for WFS (December)

(Containership)

  • G6 Alliance started Trans-Pacific (Asia/North America East Coast) trade (May) and committed to expand the collaboration to Asia/North America West Coast and Atlantic trades (December)
  • Established a subsidiary in Myanmar (February)
     

■    Incident involving the containership MOL Comfort, which suffered a crack amidships and sank (June)


■    Continual initiatives on seafarer training

  • Seafarer education and training programs in the Philippines marked their 20th anniversary. The second batch of students finished the cadet program (March)
  • Training ship Spirit of MOL retired—Mission accomplished, fully transferred to new CADET training program (March)


■    New initiatives on environmental protection

  • Won approval of installation for packaged container ballast water treatment system in cargo hold (January)
  • Completed installation of ballast water treatment system on VLCC (April)
  • Installed NOx-reducing Selective Catalytic Reduction (SCR) system on an MOL-operated vessel and began demonstration test (July)


■    Social contribution activities


■    Group-wide business expansion

  • Daibiru Honkan Building (Nakanoshima, Kinta-ku, Osaka) completed (February)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Contracts

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Finance

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Asian Airlines Pause Before Hedging on Fuel

Oil fell to four-year low of $72 on Thursday; Airlines hope the price will slip below $70 a barrel. Airlines in Asia-Pacific are holding off from hedging their

Environmental

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

ESSA's Fleet Upgradation Environmental Driven

State-controlled Exportadora de Sal SA de CV of Mexico ("ESSA"), one of the world’s largest salt exporters with a 10-million-ton annual production, has strengthened

Container Ships

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

DNV GL “Modification Excellence Award” for Schiffahrt

Classification society DNV GL recognised that E.R. Schiffahrt has retrofitted seven ultra large container vessels to meet the highest energy efficiency standards

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

LNG

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

ClassNK Approves Niigata Dual-fuel Engine Design

Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine

Massive LNG Absorber Shipped to Malaysia

Successful transport of 1,480t absorber for biggest LNG plant worldwide in Malaysia.   1,480 tons and a high center of gravity made the transport of an absorber

Casualties

USCG Medevacs Man From Sailboat off NC Coast

The Coast Guard medevaced an injured 62-year-old man from his sailboat Thursday approximately 100 miles east of Kill Devil Hills. Watchstanders at the Fifth

High Seas Becoming Less Secure

Despite the significant reduction in piracy attacks over the last few years it is now widely accepted by the maritime community that the safety of the High Seas

Kleven Wins New Yacht Contract

Norwegian ship builder Kleven has secured a new contract for a high specification, 116-metre long Expedition Support Vessel. The order is placed by Mr Graeme Hart,

News

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
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: 0.2739 sec (4 req/sec)