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)

People & Company News

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

DNV GL Backs John Laing on First Offshore Wind Investment

DNV GL successfully completed its due diligence work of the offshore wind farm “Nordergründe” in the North Sea, reviewing and quantifying the technical risks of the project.

MobileOps Pursuing Maritime Business

Redmond, Wash. based MobileOps, Inc., a software company specializing in the design and development of maritime software applications (dispatch, safety, compliance,

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

Finance

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

Industry Wants Hanjin Shipping to Merge with Hyundai Merchant Marine

The Korea Shipowners’ Association (KSA) has officially suggested Hanjin Shipping merge with Hyundai Merchant Marine (HMM) to prevent  court receivership and liquidation, reports Business Korea.

Environmental

Doing Business Differently to Meet Sustainability Targets: DNV GL

Pressure is mounting on the global oil and gas industry to reduce environmental footprint at the same time as the industry is under significant cost pressure.    Since

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Container Ships

Half a Century at Sea

Siegfried Schmerer already dreamed of becoming a captain as a young boy. Later, as a sailor on a coaster, he suffered from seasickness. Though he thought about giving up,

Advent Hires Banks to Sell Control of Brazil Port

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA,

Samskip Acquires Euro Container Line AS

Samskip has completed the acquisition of Euro Container Lines AS, building on a strategy for growth in the Nordic area to make its largest ever acquisitive move in Norway.

LNG

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

Gasum, Wärtsilä Join Forces to develop Gas Value Chain

New joint co-operation between Gasum and Wärtsilä aims to develop the utilization and distribution of natural energy gases in marine and land markets. Gasum,

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

Casualties

Caribbean Fantasy Fire Extinguished

A fire that broke out aboard the passenger vessel Caribbean Fantasy at 7:42 a.m. on August 17 has been extinguished, and the vessel has been moored safely in port.

Passenger Vessel Allides with Pier in Baltimore

Passenger vessel Spirit of Baltimore struck the pier at Henderson Wharf Marina in Baltimore, Sunday morning, causing 60 feet of damage to the pier and cosmetic damage to the vessel’s hull.

USS Freedom Suffers Casualty

The U.S. Navy's first littoral combat ship USS Freedom (LCS 1) experienced a casualty to one of its main propulsion diesel engines (MPDE) on July 11 reportedly

News

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

Singapore to Focus on Improving Navigational Safety

The Maritime and Port Authority of Singapore (MPA) launched the first-ever International Safety@Sea Conference in Singapore.    The conference will run for two days and concludes on 31 August 2016.

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

 
 
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