Iron Ore Carrier Fleet News

MOL has outlined plans for fleet expansion. MOL announced that it intends to increase the bulkship fleet by 60 vessels over the period to mid-2012. In addition, the iron ore carrier fleet is to be expanded by 44 newbuildings. These ships will include five vessels of 300,000 tons, six of 230,000 tons and another six of 200,000 tons.

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.