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)