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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Apply Now for the MN 100

The August 2015 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators,

SKF to Showcase Marine Portfolio at Nor-Shipping

SKF and SKF Blohm + Voss Industries will showcase its combined range of solutions for the marine industry at the Nor-Shipping trade fair June 2-5, 2015 in Lillestrøm, near Oslo, Norway.

Silverstream Technologies Expands Technical Team

New naval architect appointed following first commercial installation, and pipeline of orders   Dominic Tasker has been hired as a new naval architect at Silverstream Technologies,

Contracts

Statoil Awards Hull Cleaning Contract to GAC

Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet    GAC EnvironHull has signed a contract with the international

Kongsberg to Equip 2 New Jack-Up Vessels

Kongsberg has been selected to deliver a complete Electro, Instrument & Telecom (EIT), propulsion, safety, automation and dynamic positioning package for two new Gusto NG-2500X DP II design,

ASRY in Maritime Deal with Relay

UK-based engineering firm signs service agreement to provide direct services to vessels in ASRY, expanding the list of the yard’s onsite specialist contractors.

Bulk Carrier Trends

Avance VLGCs Fixed

Avance Gas said repairs of two very large gas carriers (VLGCs) are complete, allowing the delayed ships to get to work.   Both new build VLGCs recently dry-docked - Breeze (83,

Bahri Inks Contracts with Hyundai to Build 5 VLCCs

The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs),

Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come

Finance

China Breaks Ground on South China Sea Lighthouse Project

China hosted a groundbreaking ceremony for the building of two lighthouses in the disputed South China Sea, state media said on Tuesday, a move that is likely to

Port Kembla Tariff hiked

NSW Ports have advised that from 1 July, there will be 2.38% increase to the Navigation Service Charge (Port Tonnage) and 3% increase to other charges (site occupancy,

Hyundai Heavy Delivers 2,000th Ship

Hyundai Heavy Industries (HHI) has become the world's first shipbuilder to deliver its 2,000th ship. The world's largest shipbuilding company delivered a drillship, "Ocean BlackLion," to U.

Environmental

Statoil Awards Hull Cleaning Contract to GAC

Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet    GAC EnvironHull has signed a contract with the international

SKF to Showcase Marine Portfolio at Nor-Shipping

SKF and SKF Blohm + Voss Industries will showcase its combined range of solutions for the marine industry at the Nor-Shipping trade fair June 2-5, 2015 in Lillestrøm, near Oslo, Norway.

Harnessing Offshore Wind Peaks in U.S.

For the US energy industry, 2014 will be remembered as the year when crude oil prices fell below 50$/bbl, resulting in significant realignments in the sector.

LNG

Red Tape, Industrial Relations Could Stifle LNG Potential

Australia could develop the world’s most technologically advanced LNG industry, according to a report by Accenture. But if industry is to reach its potential

Egypt's $3 Bln LNG tender in June

Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017, Reuters reports.   The country recently

Gail to Sell LNG Supplies from US to Shell?

GAIL (India) Ltd has signed a preliminary deal with Royal Dutch Shell for the potential sale of liquefied natural gas (LNG) supply sourced from its portfolio, made up of US production,

Casualties

USCG Assists 2nd Activist From Arctic Challenger

Coast Guard personnel assisted in the removal of an activist who secured herself to the anchor chain of the Arctic Challenger in Bellingham, Wash., Monday morning.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

5 Tunisian Migrants Die in Shipwreck

At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying

News

Iran, Oman Discuss Yemen War, Settle Maritime Borders

Iran's Foreign Minister Mohammad Javad Zarif discussed how to advance Yemeni peace efforts with his Omani counterpart on Tuesday, Iranian media reported, on a visit

More Type Approvals for Danelec VDRs, S-VDRs

Danelec Marine has received type approvals from the U.S. Coast Guard and China Classification Society (CCS) for its DM100 series Voyage Data Recorders (VDRs).   The U.

Statoil Awards Hull Cleaning Contract to GAC

Eco-friendly HullWiper technology to fight fouling and enhance efficiency for oil and gas company fleet    GAC EnvironHull has signed a contract with the international

 
 
Maritime Contracts Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.2688 sec (4 req/sec)