MOL to Scrap 5 Double Hull Tankers

press release
Monday, January 30, 2012

Aims at Rejuvenation of the Fleet, Higher-quality Services.
Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced a decision to scrap five double-hull tankers (four VLCCs, one Suezmax) by the end of March. Scrapping of two vessels is already completed, and preparations are under way to start dismantling the other three.
All five tankers were crude carriers launched before 1998. MOL, as one of the world’s leading crude oil transport operators, is moving ahead to rejuvenate its fleet, upgrade the quality of its services, and solidify its position in the market, where it expects mid- and long-term growth. Meanwhile, the vessels will be scrapped at yards that conform to the “Guidelines to sell vessels for scrapping from an environmental viewpoint” stipulated by MOL*.
(*) “Guidelines to sell vessels for scrapping from an environmental viewpoint”

MOL has monitored scrapping yards to ensure that their environmental practices in conformity to ISO14001 (or equivalent environmental management standards) and carefully evaluates their scrapping methods based on its own guidelines for environmental protection and occupational safety.
Profiles of VLCCs:

Name                           Built in      Flag                  Deadweight tons
Atlantic  Liberty           1995         Panama          311,625
Atlantic Prosperity     1995          Panama          311,689
Minesa                        1996         Marshall Is.      267,812
Rion                             1998         Marshall Is.      267,534

Profile of Suezmax

Name                        Built in      Flag                     Deadweight tons
Glen Maye                1992        Panama              151,850

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