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Safety Cost-focus Management

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A well-known oil spill occurred off Spain in 2002, which resulted in the spill of about 63,000 tons of heavy oil after the oil tanker Prestige suffered hull damage and sank. Victims' claims totaled about 1 billion euros (about ¥140.0 billion). This is typical of a serious marine accident that results in significant damage to the environment.

MOL established its unique "MOL Safety Standard Specifications (please refer to page 27 for details)." The standards include the "fail safe" concept required to ensure safety even at the ship design and construction stages. This also includes additional installation of backup equipment and other devices that allow for emergency operations. Normally, specifications and estimates quoted from shipyards are based on the standard specifications, but MOL is committed to taking additional safety measures even though it increases vessel construction costs by 2% to 3%. This can add up to hundreds of millions of yen per ship, but all of MOL's vessels offer the most advanced safety specifications.

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