MES Establishes Unit for FPSO Charters

Maritime Activity Reports, Inc.

February 1, 2016

Mitsui Engineering and Shipbuilding Co., Ltd. (MES) has established a new department to support the chartering of floating production, storage & offloading system vessels (FPSO) for marine oil and gas.
Effective February 1, this new section within the Ocean Business Promotion Department will handle all operations and management related to our participation in FPSO chartering-related businesses.
MES is implementing Mid-Term Business Plan 2014 (MBP14) to aim for the realization of a balanced business portfolio that ensures sustainable growth and solid profit stability. One of the core basic policies of MBP14 is the expansion of business engagement and related-service businesses. As part of this strategy, MES acquired shares of Cernambi Norte MV26 B.V., an FPSO chartering business company that operates in the Iracema Norte field of the pre-salt layer off the coast of Brazil, from MODEC, Inc. With this transaction, MES will engage in the chartering business. 
MES said it will continue to work toward business engagement and the expansion of related service businesses and aggressively invest in businesses conducting FPSO chartering, and will further enhance its cooperation with MODEC as the company continues to focus on the Ocean Business Promotion Department. 
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