MOL to integrate dry bulk, wood chip carrier businesses under new company
Mitsui OSK Lines (MOL) has confirmed that its 100 per cent-owned subsidiary Mitsui OSK Kinkai (MOL Kinkai) and MOL’s small small- and medium-sized bulker business, wood chip carrier business, and Panamax business – excluding shipping services for steel manufacturers and domestic electric power companies – will be integrated under a single company.
MOL and MOL Kinkai have decided on a policy of integrating their businesses and will establish a new company with MOL Kinkai as the surviving company.
The new company will be a unique entity with a diverse range of vessel types and sizes, ranging from 10,000DWT to 100,000DWT, including bulk carriers, wood chip carriers, and multipurpose vessels.
MOL said the new company will: enhance environmental initiatives such as GHG reduction; provide one-stop service to customers regardless of the cargo or vessel type; and provide a wide range of transportation solutions.
In April 2021, the name of MOL Kinkai will be changed. In April 2022, the businesses will be transferred to the new company involving integration of the organisation and personnel.