Muto News

Japanese transport company Mitsui O.S.K. Lines (MOL) held a "MOL Safety Conference 2019" for seafarers of the MOL group from February to end of May at 5 locations worldwide, which almost 800 seafarers have attended.The locations were Tokyo (Japan), Mumbai (India), Manila (Philippines), Dubrovnik (Croatia) and  Vladivostok (Russia).MOL Chairman Koichi Muto and President & CEO Junichiro Ikeda along with many other MOL executives and staff members participated in the conference to discuss with seafarers about the safe operation.The Safety Conference has been held annually since 2007 with the main purpose of fostering a safety culture within the organization.

Mitsui O.S.K. Lines (MOL) group seafarer manning company Magsaysay MOL Marine (MMM) held a Family Day for Filipino seafarers at an amusement complex in Manila, drawing about 3,250 seafarers and their families.MOL also held a long-service awards presentation ceremony for Filipino seafarers who work for MMM in Manila. MOL Chairman Koichi Muto, MOL Senior Managing Executive Officer Akihiko Ono, MOL Managing Executive Officer Masanori Kato, and executives of MOL group's ship management companies attended both events.Family Day was held at an amusement complex in Manila, drawing about 3,250 seafarers and their families. MOL Chairman Koichi Muto expressed his gratitude to the seafarers and their families for their support of safe operations…

Mitsui O.S.K. Lines, Ltd. today announced that on March 8, it held a groundbreaking ceremony for a new merchant marine academy in Salitran, Dasmariñas City, the Philippines. It will be jointly established with Magsaysay Maritime Corporation (MMC) (*1), MOL’s partner in the Philippines, and is scheduled to open in June 2018. A large audience was on hand for the groundbreaking ceremony, including special guests from the city of Dasmariñas and from the Commission on Higher Education (CHED); from MOL, Chairman Koichi Muto and Senior Managing Executive Officer Masaaki Nemoto. Everyone in attendance prayed for the safe completion of the construction project.

Mitsui O.S.K.Lines, Ltd. today announced that, in cooperation with the Japan’s 7th Regional Coast Guard Headquarters, the company conducted a tabletop drill based on a scenario in which the cruise ship Nippon Maru, operated by its group company, Mitsui O.S.K. Passenger Line, Ltd. collided with another containership while under way on the Kanmonpassage. The scenario also included injuries to some on board and flooding of the Nippon Maru’s engine room. The drill was held on Wednesday, May 13, 2015, with the goal of strengthening MOL's emergency response structure, which is based on the MOL Group Corporate Principles – protecting the environment by maintaining strict, safe operation and navigation standards.

MOL President, President, Koichi Muto reported that the performance of the company was slack. Muto reported, "I am sad to report that our business performance fell short, and we could not achieve our initial target of ¥70 billion in consolidated ordinary income. Looking back at FY2014, the containership business could not achieve our targets despite the favorable winds of a depreciating yen and lower bunker prices. This was due to factors including inaccurate projections regarding the trade environment, freight rate market, and bunker prices, as well as construction delays in our terminal automation project, and led to a significant loss. In addition, repeated downward revisions of our forecasts have eroded shareholders’ trust in our company.

Mitsui O.S.K. Lines, Ltd. today announced the appointment of a new chairman and president.   Current President and Representative Director Koichi Muto will assume the position of Representative Director and Chairman, and current Director and Senior Managing Executive Officer Junichiro Ikeda will become president. The appointments are subject to approval by the Board of Directors meeting following the Annual General Meeting of Shareholders, which will be held on June 23, 2015.

Mitsui O.S.K. Lines, Ltd. today announced the graduation of 105 students in the fourth class of the "3rd Year Program," which MOL introduced with the goal of developing crewmembers who will uphold strict safety standards in vessel operation. The 3rd Year Program targets new seafarers from among third-year students at partner maritime schools in the Philippines. MOL provides education and training at the Magsaysay Institute of Shipping(MIS)(*1), its training center in the Philippines. On hand for the graduation ceremony were Administrator of the Maritime Industry Authority (MARINA)Dr. Maximo Q. Mejia, Jr, Development Bank of the Philippines Executive Vice President and Chief Development OfficerBenel D.

Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) and Reliance entered into a strategic association for transportation of Liquefied Ethane from United States to India. This will make MOL to be the first shipping company who is dedicated for a continuous Liquefied Ethane transportation by Very Large Ethane Carriers (VLEC). The transportation of Ethane will be carried out by six VLEC's from North America to India. The VLEC's are being specifically built by Samsung Heavy Industries Co., Ltd and expected to be delivered in the last quarter of 2016 and will enter into service thereafter. The vessels are designed to cater to the latest safety and environmental regulations and will have superior design parameters.

Under cooperation with Japan's Coast Guard, Mitsui O.S.K. Lines, Ltd. (MOL) has conducted a tabletop drill based on a scenario in which fire occurred in the engine room on a bulk carrier while under way at Kudako channel in Inland Sea, resulting in the vessel going aground. The vessel is managed by an overseas third-party ship management company. The drill was held on Thursday, May 22, with the goal of strengthening MOL's emergency response structure, which is based on the MOL Group Corporate Principles—protecting the environment by maintaining strict, safe operation and navigation standards. The exercise was also designed to ensure the necessary response and smooth…

Mitsui O.S.K. Lines, Ltd. (MOL) today announced the launch of its biannual campaign on October 15, targeting all MOL-operated vessels. As part of its safety efforts, President Muto, executives and other personnel will conduct an extensive series of visits to MOL-operated vessels in Japan and overseas. During the visits, they will meet with on-board employees who are responsible for on-site safe operation and exchange information and opinions about ways to prevent safety-related incidents.

Three Castaways Rescued Safely off Indonesia. Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) has announced that on October 6, 2014, the MOL-operated/managed LNG carrier Senshu Maru founded drifting castaways in the Celebes Sea off Indonesia, and was able to safely rescue three Indonesian fishermen. At 14:15 (all times were in Japan time) on October 6, 2014, the Senshu Maru, sailing from the port of Bontang, Indonesia, to the port of Sakai-Senboku in Osaka, Japan, found drifting fishermen – their fishing boat was hit by the wave and sunk, and immediately began the rescue operations.

Mitsui O.S.K. Lines, Ltd. President: Koichi Muto) today announced the naming ceremony of 'LNG Venus', a newbuilding liquefied natural gas (LNG) carrier held at the Nagasaki Shipyard of Mitsubishi Heavy Industries, Ltd. (MHI; President: Shunichi Miyanaga; Headquarters: Minato-ku, Tokyo). The vessel is under construction at MHI and will serve Osaka Gas Co., Ltd. As a large group of guests looked on, Osaka Gas President Ozaki named the vessel, and his wife cut the rope. The LNG Venus is co-owned by MOL and Osaka Gas’ wholly owned subsidiary, Osaka Gas International Transport Inc. (President: Shigeru Chikamoto; Headquarters: Osaka City, Osaka Prefecture). After its completion, it will sail under a charter contract with Osaka Gas.

Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the publication of the English version of its Environmental and Social Report 2014, which introduces the MOL Group's perspectives and latest initiatives regarding corporate social responsibility (CSR) and the environment. The report provides a broad range of information based on the viewpoints of the environment, society, and governance (ESG), which support MOL's sustainability, and focuses especially on issues the MOL Group should emphasize to ensure continued growth while meeting the needs of its various stakeholders. The special feature, "Contributing to Society through Businesses…

"I would like to report our business results for the first quarter of fiscal year (FY) 2014 (April 1, 2014 to June 30, 2014). During the first three months of FY2014, while geopolitical risks such as political strife in Ukraine and Iraq raised concerns of a spike in crude oil prices, moderate recoveries in the United States and Europe drove global economic growth. Looking at maritime shipping markets, a continuing surplus of dry bulk vessels kept that sector weak overall. The very large crude oil carrier (VLCC) market slumped mainly as a result of a decline in demand for crude oil shipments due to scheduled periodic maintenance at East Asian refineries. On the other hand, the LPG carrier market was strong.

MOL Commended for ‘FY2013 Best Quality Ship Award’; MOL president Koichi Muto meets with captain and chief engineer, exchanging views and working to establish a more solid safe operation system. Mitsui O.S.K. Lines, Ltd. (MOL) announced that four MOL-operated and managed ships were selected for the FY2013 Best Quality Ship Awards by Japan Federation of Pilots’ Associations. MOL Senior Managing Executive Officer Masaaki Nemoto was on hand for the awards ceremony on June 24. On July 17…

Scenario: Fire in bulkship engine room, vessel runs aground. Mitsui O.S.K. Lines, Ltd. announced that, under cooperation of the 6th Regional Coast Guard Headquarters of Japan Coast Guard, the company conducted a tabletop drill based on a scenario in which fire occurred in the engine room on a bulk carrier while under way at Kudako channel in Inland Sea, resulting in the vessel going aground. The vessel is managed by an overseas third-party ship management company. The drill was held on Thursday, May 22, with the goal of strengthening MOL's emergency response structure, which is based on the MOL Group Corporate Principles—protecting the environment by maintaining strict, safe operation and navigation standards.

The president of Mitsui O.S.K. Combined with the continuing weaker yen and falling bunker prices, we saw a significant year-on-year improvement in profitability, and successfully achieved the main theme set forth in the Single-year Management Plan RISE2013 – Achieve profitability in FY2013 to make it the first year of MOL’s new growth stage. Looking at maritime shipping market conditions, despite signs of a year-on-year recovery, the environment remained difficult overall. In the dry bulker market, on the vessel supply front the number of new vessel deliveries showed a substantial year-on-year decline. On the cargo demand front, cargo volumes were brisk overall and shipment volumes of iron ore from Western Australia hit a record high.

Four conferences aimed at becoming the world leader in safe operation. Mitsui O.S.K. Lines, Ltd. (MOL) announced that MOL Safety Conference 2014 programs have been held in four places worldwide. Date                          City (country)                No. Each conference opened with powerful messages from MOL Chairman Akimitsu Ashida and President Koichi Muto. “This year marks the 130th anniversary of MOL. For our growth strategy, establishing and maintaining safe operation is one of the most important issues for gaining customer’s trust.

Attended by Some 350 Guests, Announces Commitment to Further Business Expansion. Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) hosted a party in Singapore on November 7 for customers, business partners, government officials and others. MOL emphasized the strategic importance of Singapore, and introduced group companies that operate businesses in the island nation. The event, held at the Intercontinental Hotel Singapore, was attended by more than 350 guests including Singapore Transport Minister Lui Tuck Yew and Japanese Ambassador to Singapore Haruhisa Takeuchi…

Mitsui O.S.K. Lines, Ltd. (MOL, President: Koichi Muto) , a Member of the G6 Alliance has announced plans to expand their cooperation to the Asia-North America West Coast and Trans-Atlantic trade lanes. The G6 Alliance said the expanded cooperation will provide customers with more service choices and increased sailing frequency. For example, on the Asia-North America West Coast trade, each G6 Alliance member will be able to offer almost twice as many sailings, compared to what is currently offered separately by The New World Alliance and the Grand Alliance. “The proposed expansion will complement our existing services in the Asia-North America East Coast and Asia-Europe trades…

MOL Group president Koichi Muto issued a New Year message that reflects on 2013 while rallying for company-wide growth in 2014 as MOL prepares for 130th anniversary. “Looking back at 2013, Japan’s economy finally started to offer a glimpse of hope for pulling out of the deflation from which it has suffered for many years,” Muto said. “This can be attributed to the economic policies of Prime Minister Abe’s government, or the so-called “three arrows” of Abenomics. Last year, MOL…

Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) has announced the delivery of the Akatsuki, the first 104,000 DWT class Post-Panamax coal carrier, which was jointly developed with Sanoyas Shipbuilding Corporation (President: Takashi Ueda; Headquarters: Kita-ku, Osaka) and built at the Sanoyas Shipbuilding Mizushima Shipyard. This new ship type was designed to optimize the transport of coal for power companies in Japan. MOL plans to add these advanced, efficient vessels to its fleet in succession.

Mitsui O.S.K. Lines, Ltd. (MOL) president Koichi Muto hosted an appreciation cocktail party for government leaders, customers, partners and MOL employees on March 5 at Park Royal Hotel, Yangon. It was well attended by 110 guests including Ichiro Maruyama, Minister-Counsellor/Deputy Chief of Mission, Embassy of Japan, reaffirming MOL’s expansion plan in the containership business in Myanmar and its commitment in furthering the country’s economic development. "It is my honor to visit Myanmar and I am deeply grateful to the Myanmar government…