Chung Kisun Promoted to Chairman of HD Hyundai
HD Hyundai’s Executive Vice Chairman Chung Kisun has been promoted to Chairman.Chung holds a bachelor's degree in Economics from Yonsei University and an MBA from Stanford University in the United States. He began his career in 2009 in the Finance Team of the Corporate Planning Division at HD Hyundai Heavy Industries. Since then, he has served as Head of Management Support at HD Hyundai, Head of Ship Sales at HD Hyundai Heavy Industries, and CEO of HD Hyundai Marine Solution.He currently serves as CEO of HD Hyundai…
Asian Nations Battle for Shipbuilding Share
China’s share of the tanker orderbook rose from 32.4% in 2022, to 62.6% in 2023 and then 71.2% in 2024. Its share of the container ship orderbook has shown a similar growth trajectory. The nation has ranked first in the world for new orders since 2012. Labor costs are about half of what they are in Korea and Japan, and China is the world’s cheapest steel manufacturer.Niels Rasmussen, Chief Shipping Analyst at BIMCO, says that during the past five years Chinese shipyards have built 50% of the ship capacity delivered, and Chinese shipyards now hold 66% of the ship capacity in the orderbook.
MOL Unveils Restructuring
Japanese shipping major Mitsui O.S.K. Lines (MOL) plans to undertake a number of changes as part of an organizational restructuring, effective April 1, 2018. MOL said it will establish a liner business management division to “fulfil its management role as one of the major investors in Ocean Network Express (ONE), into which the liner division is being integrated”. The Japanese giant will split tanker operations and a chief financial officer (CFO) appointed for the first time. It will divide the tanker division into tanker division (A) and tanker division (B) to create a more customer-focused approach and establish a ferry business division.
MOL to Restructure Organization
The Japanese shipping company Mitsui O.S.K. Lines, Ltd (MOL) will restructure its organization effective April 1, says a press statement from the company. MOL is establishing the Product Transport Business Unit, under which much of the carrier and port divisions will reside. It has also submitted an application to establish a logistics subsidiary in India. The company will establish the Product Transport Business Unit to create the cross-sectional system “One MOL” to promote businesses in the product transport field and further meet customer needs. The company will establish the One MOL Business Strategy Execution Office in the Corporate Planning Division as an organization that engages in division/area cross-sectional business promotion…
MOL Table Top Drill for Bulk Carrier Collision
Mitsui O.S.K. Lines, Ltd. (MOL, President: Koichi Muto) today announced the completion of a table top drill based on the scenario of the MOL-owned and operated bulk carrier Mona Linden being involved in a collision that resulted in flooding and oil spill off Takamatsu, Inland sea, Japan. The drill involved about 60 participants including executives from MOL and MOL Group companies. The three-hour drill, from 1 p.m. to 4 p.m. on Thursday, May 19, was aimed at strengthening MOL's…
MOL Containership to Transport Aid Supplies from Overseas
Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) is determined to provide containerships to transport aid supplies from overseas. As the damages of the earthquake set in, MOL has received many calls from voices desired to transport aid supplies to Japan from overseas. “We express our heartfelt sympathies to the families and friends of those who lost loved ones in the earthquake,” MOL President Koichi Muto said. Items covered: Grant aid supplies from public institutions such as governmental institutions and municipalities, or government-approved aid organizations to be shipped to disaster areas by the Tohoku district - off the Pacific Ocean earthquake. However, some of the items such as dangerous articles, animals, and other regulated items may not be accepted.
MOL Drills on Emergency Response
Mitsui O.S.K. Lines, Ltd. announced that the company has completed a practice drill based on the scenario of its training ship Spirit of MOL being involved in a collision, fire, and oil spill incident just off Manila on February 18. Following is an outline of the drill, which involved about 60 participants from the Tokyo Head Office and MOL Group companies. Beginning on the afternoon of Thursday, February 18, the drill was intended to strengthen the foundation of social responsibility laid out in the MOL Group Corporate Principles protecting the environment by maintaining strict…
