Mitsui O.S.K. Lines,Ltd (“MOL”) revealed the plan for the reconstruction of the Dry Bulk company within the Group.

Outline of the Reorganization

Mitsui O.S.K. Kinkai,Ltd (the Company’s 100% possessed subsidiary; “MOL Kinkai”) as well as MOL’s tiny- as well as medium-sized bulker company, timber chip provider company as well as Panamax company, leaving out solutions for steel suppliers as well as residential electrical power business, will certainly be incorporated.

Purpose of the Reorganization

The company setting bordering the delivery sector is transforming at an exceptionally fast rate, with aspects such as the adjustments in globe’s political as well as financial fads, architectural adjustments in power need, diversity of consumer transport requires, irregular climate as well as the COVID-19 pandemic, all having a considerable influence.

Representation Image– Credits: mol.co.jp

To take on these adjustments, on June 22, 2020, in their Management Plan “Rolling Plan 2020”, MOL revealed the intent to “Enhance the organizational strength by mobilizing resources of all of the group companies”, as well as to “Strengthen growth strategies and conduct structural reforms depending on the business characteristics” in order to accomplish MOL’s 10year vision to “become a group of Business Units with No.1 competitiveness in respective areas”.

In line with these approaches, MOL as well as MOL Kinkai have actually just recently picked a plan of incorporating their organizations as well as develop a brand-new firm with MOL Kinkai as the making it through firm, with the purpose of creating an organization entity to react to the significantly transforming company setting as well as to reinforcing customer care.

The brand-new firm will certainly be a special entity with a varied series of vessel kinds as well as dimensions, varying from 10,000 DWT to 100,000 DWT, consisting of mass service providers, timber chip service providers as well as multi-purpose vessels. The Dry Bulk transport solution that each company systems have actually been giving to fulfill the needs of their numerous clients will certainly be enhanced to a greater degree by making best use of the harmonies from this reconstruction. The brand-new firm will certainly boost ecological efforts such as GHG decrease, supply one-stop solution to our clients despite the freight or vessel kind, include worth by giving a vast array of transport remedies, as well as will certainly make every effort to come to be a “strong and resilient” Dry Bulk provider.

Outline of the brand-new firm

In April 2021, the name of MOL Kinkai will certainly be altered (Hereinafter described as the “new company”), as well as in April 2022, business will certainly be moved to the brand-new firm including assimilation of the company as well as employees.

Schedule of the Integration

December 11, 2020: Resolution of the Board of Directors on the Group Reorganization Policy
April 1, 2021: Change the name of MOL Kinkai, Start incorporated solution
April 1, 2022: Business transfer to the brand-new firm

Reference: mol.co.jp