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MOL to reorganises from top to bottom with new plan from April 1

JAPANESE shipping giant Mitsui OSK Lines (MOL) has announced that it will reorganise the company effective April 1 with the establishment of the Product Transport Business Unit.

Already a Dry Bulk Business Unit and the Energy Transport Business Unit were established last April, said the MOL press release.

The company will now set up a Product Transport Business Unit to create the cross-sectional system "One MOL" to promote businesses in the product transport field.

It will also establish a One MOL Business Strategy Execution Office in the corporate planning division as an organisation that engages in division/area cross-sectional business promotion, "based on global business strategies and strategic initiatives, that uses business intelligence in an integrated fashion".

In addition, it will abolish the Research Office, and transfer its function to the One MOL Business Strategy Execution Office and other business divisions.

The company will also establish a Bunker Business Office as an independent office within the Energy Transport Business Unit.

It will be an organisation that purchases and prepares bunker oil and lubricant, establishes mid- and long-term policies to procure fuels while adhering to SOx regulations etc.

The company will also accelerate initiatives concerning vessels with engines that use alternative fuel such as LNG. And it will participate in LNG and other fuel supply businesses in an integrated fashion. At the same time, the Bunkering Group of the Tanker Division will be abolished.

The company will establish the New Business Creation Group in the Group Business Division research and evaluate information on new businesses.

The company will transfer the group that is responsible for LNG carrier projects in Russia and China, to the LNG Carrier Division, and restructure the Offshore & LNG Project Division to be an organisation that engages in intensive efforts to expand offshore business.