Marine Link
Saturday, October 22, 2016

MOL Announces Shipbuilding Program

April 5, 2007

Mitsui O.S.K. Lines, Ltd. announced a major expansion of the company's iron ore carrier fleet, with a proposal to launch 44 new vessels. The move is part of MOL's growth strategies in the new midterm management plan MOL ADVANCE, which began on April 1. MOL ADVANCE focuses on the allocation of management resources in growing fields of the ocean shipping industry. MOL expects production of crude steel will continue to grow, particularly in China, where major players in the industry are restructuring and integrating their operations. As a result, demand for the transport of raw materials for steel will also increase. As a leader in worldwide ore carrier operators, MOL is expanding its large-scale fleet with various types of vessels to meet diverse customer needs. The company has already signed long-term contracts for half of the 44 vessels to be newly built. MOL continues to negotiate contracts, and its target is to have 60% of the all new carriers sail under long-term agreements. MOL's iron ore carrier fleet, 118 including Cape size and Panamax vessels as of March 31, 2007, will increase in total about 150 vessels by March 2013, including about 120 Cape size carriers and about 30 Panamax ships. Source: Shipping Times

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News