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December 26, 2011

MOL News Highlights for 2011

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President Koichi Muto) today announced the company's top news stories for 2011 as follows:

Relief efforts after the Great East Japan Earthquake and Tsunami (March 11 - )

  • MOL set up a task force and support headquarters headed by President Muto to secure safe operation of group-operated vessels and took measures to minimize damage and continue business.
  • The company took group-wide efforts to procure aid supplies, provide transport for aid supplies and volunteers, donate reefer containers, transport JSDF personnel and vehicles by MOL Ferry, make calls at the ports in the quake-stricken areas with the cruise ship Fuji Maru to provide free day-use services such as meals & bath.

MOL posted its biggest-ever loss with the consolidated financial results for the first half of FY2011. (October)

  • Posted an ordinary loss of ¥12.1 billion in the consolidated financial results for the first half due to continued appreciation of the yen, steep rises in bunker prices, stagnant markets due to overtonnage supply in the fleet, and other factors. It formulated an "action plan to overcome the crisis," which is now in execution.

Proactive approaches to developing businesses in each field

  • Placed newbuilding orders for 4 LNG carriers on a shipyard in China (January)
  • Announced a large-scale containership fleet development plan (June)
    2 new ships (8,600TEU) and 5 chartered ships (14,000TEU)
  • Agreed to build 2 new LNG carriers for a long-term LNG transport contract with Osaka Gas (October)
  • Signed a Letter of Intent to set up a new VLCC pool (December)
  • Won an order for Indonesia's 1st coastal LNG transport project (December)
  • Members of The New World and Grand alliances decide to create a new alliance on European route (December)

Various efforts in "become the world leader in safe operation" projects

  • A new high-performance ship-handling simulator was installed at the MOL seafarer training center in the Philippines (May)
  • Produced a DVD to introduce the approaches and measures we are taking to ensure safe vessel operations: Forging Ahead to Become "The World Leader in Safe Operation" (May)
  • MOL-managed LNG carrier received a Green Award Certificate, which was a world's first for LNG carriers (October)
  • MOL Group manning company in the Philippine earned Class NK certification (November)

Efforts toward Environmental Protection

  • Finalized design of a hybrid car carrier that adopts ISHIN-I element technologies (July)
  • Adopted low-friction ship-bottom paints on 2 newbuilding car carriers (July)
  • Propeller Boss Cap Fins System (PBCF) reaches a major milestone - Orders received for an aggregate of 2,000 vessels (August)
  • Earned the world's first certification for the Ship Energy Efficiency Management Plan (SEEMP) (December)

MOL Group further enhances slow steaming on vessels

International social contribution activities

  • Provided transport of desks and chairs for an elementary school in Burkina Faso, West Africa (April)
  • Provided ocean shipping containers to create an impervious wall that can help prevent flood damage in Thailand and made a monetary donation (October)
  • Donated funds to typhoon relief efforts in Mindanao, the Philippines (December)
  • Provided transport of medical vehicles and equipment to Cambodia

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