MOL's Top News Highlights 2013
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
- Supported disaster relief efforts for typhoon afflicted people in the Philippines (November—December)
■ Group-wide business expansion
- Daibiru Honkan Building (Nakanoshima, Kinta-ku, Osaka) completed (February)