MOL (Mitsui O.S.K. Lines) is a multi-modal transport group. The fleet ranges from specialized dry bulkers for iron ore, coal, and wood chips to tankers that transport crude oil and LNG, and car carriers and containerships that deliver a variety of finished products. The MOL Group employs more than 10,000 people in 441 companies and operate 896 fleets.
Mitsui OSK Lines (MOL) has ordered four LNG-fueled car carriers at two shipyards. The order for new vessels is part of the Japanese carrier's environmental target of a fleet of 90 LNG-fueled ships by 2030.
The sale of Danish ferry company Molslinjen to equity fund EQT Infrastructure closed today, Tuesday, March 2. As part of the transition of ownership, the company elects a new board of directors, chaired by Niels Smedegaard.
MOL explains in a new report that the crew on board dry bulker MV Wakashio changed the course of the vessel from 22 nautical miles off the Mauritian coast to just two nautical miles in order to enter an area with cell phone coverage before the vessel ran aground.
Japanese carrier MOL makes changes to its top management. The current CEO becomes chairman going forward, and a new CEO has been found internally. This is done to accommodate the major changes facing the industry, the company informs.
Following Total's withdrawal from the pending Danish tender, Mol Dania and Lundin Norway now have also announced that they will no longer participate as bidders in the country's eighth tender for oil exploration licenses, leaving only the UK's Ardent Oil as an interested suitor.
A planned expansion of oil firm Preem's refinery in Lysekil, Sweden, would cost more than USD 1.69 billion and increase CO2 emissions by over one million tonnes per year. Greenpeace calls it a victory for the climate movement, while Preem says its decision to drop the plans is purely commercial.
Japan's Mitsui OSK Line will spend USD 9.4 million in the coming years on several initiatives to aid Mauritius after the oil spill. Mangroves need to be cleaned, among other things, and a new environmental fund is also established.
MOL Nordic Tankers incurs a loss for the third consecutive year. 2019 was off to a weaker start than expected, and the market recovery was disappointing, management writes. The company has changed its name again.
Japan's MOL earlier this week heralded extraordinary losses from factors including a loan to Gearbulk. "We are not in default on the loan," the dry bulk company's managing director tells ShippingWatch.
The three Japanese shipping companies MOL, NYK and K Line all saw their revenue slide in the first three quarters of 2019. The companies all report growing profits for the same period, where container line ONE "showed a significant improvement."
An protracted cartel case has cost major car carriers fines worth at least USD 1.08 billion, shows an assessment by ShippingWatch. Read on to find out how much the shipping companies have paid so far in various countries.
Germany's Daimler, parent company of, among others, Mercedes Benz, is pursuing damage claims from a number of car shipping companies in an antitrust case. The manufacturer has sued in both the US and UK, show court documents ShippingWatch has seen.
Japan's MOL will begin a new study that will explore how a so-called rotor sail impacts, among other elements, greenhouse gases. The study will pave the way for MOL to launch a dry bulk ship powered by rotor sails.
Following his exit from MOL Nordic Tankers, Per Sylvester Jensen is open to take on another top job in shipping. But it has to be close to his family in the US, says Jensen in an interview with ShippingWatch.
Chemical tanker company MOL Nordic Tankers replaces its top management, including CEO Per Sylvester Jensen. This development is a consequence of the company getting new owners, which have initiated an integration process.
Despite revenue setbacks, the three partners behind liner company ONE have turned deficits into profits in the first quarter. The container business is making a small profit, but other segments also improved.
MOL Chemical Tankers has now completed its acquisition of Nordic Tankers from equity fund Triton. The sale means that the chemical tanker shipping company will now operate under the name MOL Nordic Tankers.