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

People & Company News

Liberian Registry Appoints Catsiba Manager in Dubai

Fay Catsiba has joined the Liberian International Ship & Corporate Registry (LISCR) as Business Development Manager based in Dubai, U.A.E. Greece-born Fay, who

Cook Joins Horizon Shipbuilding as Operations VP

Horizon Shipbuilding, Inc. announced that Mickey Cook has joined the corporation as the Vice President of Operations for the Bayou La Batre shipyard. Cook, one of the founders of C & G Boatworks,

Mercury Marine Launches Repower Financing

Mercury Marine launched a new repower finance program that aims to make it easier for consumers to get the engine performance they want with flexible financing for a broad range of buyers.

Contracts

Mexican Navy Contracts Damen for Two Vessels

Secretaria de Marina orders seventh patrol vessel and a fast crew supplier In August 2014 the Mexican Navy (Secretaría de Marina) and the Netherlands’ Damen

Maersk Sells Ven Drilling Barges

Danish shipping conglomerate A.P. Moller-Maersk said on Tuesday its offshore oil and gas drilling unit has sold its Venezuelan barge activities. Maersk Drilling

BAE Systems Awarded 'USS Hopper' Repair Contract

US Department of Defense informs BAE Systems Hawaii, Honolulu, Hawaii, is being awarded a not-to-exceed $22,905,907 undefinitized contract action to a previously

Finance

Mercury Marine Launches Repower Financing

Mercury Marine launched a new repower finance program that aims to make it easier for consumers to get the engine performance they want with flexible financing for a broad range of buyers.

Maritime Academy Awarded DHS Grant for Arctic Training

Maine Maritime Academy receives $450,000 grant From U.S. Department of Homeland Security for ice navigation and maritime first responder courses for the Arctic Maine

Knightsbridge Closes Vessel Acquisition Transaction

Bermuda-based Knightsbridge Tankers Limited announced that it has closed the first stage of its vessel acquisition transaction. Knightsbridge has issued 31 million

Environmental

Maritime Academy Awarded DHS Grant for Arctic Training

Maine Maritime Academy receives $450,000 grant From U.S. Department of Homeland Security for ice navigation and maritime first responder courses for the Arctic Maine

Great Lakes Dry Cargo Residue Discharge Rule in Effect

The U.S. Coast Guard published a final rule to the Federal Register announcing that it has received approval from the Office of Management and Budget for an information

Survey Vessel Delivered to Fugro N.V.

Fugro Pioneer is the second of three vessels to be delivered to Fugro in 2014. Fugro has taken delivery of the second of the three Fugro Offshore Coastal Survey

Container Ships

Cargo Container Security Alliance Formed

SC-integrity, Inc. (LoJack SCI) and Contguard Ltd. announced a strategic alliance designed to provide their customers with security and real-time visibility of

Port of Long Beach Sees Cargo Numbers Slip

Container cargo shipments declined by 9.1 percent in August at the Port of Long Beach, reflecting both early shipping by importers this year and the comparison

Seaspan Agreement with GCII & Blue Water

Seaspan Corporation announced today that it has entered into an agreement with Greater China Intermodal Investments LLC and Blue Water Commerce, LLC to extend

Casualties

Washington Navy Yard Remembers Shooting One Year Later

It was a day no one who worked on the Washington Navy Yard will ever forget. Shortly after 8 a.m., on Sept. 16, 2013, Navy contractor Aaron Alexis entered the Naval

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Deadliest Weekend Ever in the Mediterranean: UNHCR

More than 700 people fleeing Africa and the Middle East may have drowned in shipwrecks in the Mediterranean over the last week, bringing the death toll this year to almost 3,

News

Gladding-Hearn Delivers Third NYPD Boat

With more than a dozen patrol boats and a fireboat built by Gladding-Hearn Shipbuilding, Duclos Corporation, operating in New York Harbor, the Somerset, Mass.,

Cook Joins Horizon Shipbuilding as Operations VP

Horizon Shipbuilding, Inc. announced that Mickey Cook has joined the corporation as the Vice President of Operations for the Bayou La Batre shipyard. Cook, one of the founders of C & G Boatworks,

Update: SS Central America Salvage

Odyssey Marine Exploration completes current phase of SS Central America recovery; 15,500+ gold and silver coins, 45 gold bars recovered to date; 161,000-square meter,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Salvage Ship Electronics Sonar 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: 0.2196 sec (5 req/sec)