Press Release

English

Press Release
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006

September 03, 2014

MOL, Viken Shipping Conclude Partnership
- Long-term charter service for Transpetro of Brazil -

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that the company has decided to establish a ship-owning joint venture with Viken Shipping AS (Viken Shipping; CEO: Tom C. Steckmest; headquarters: Bergen, Norway) and participate in a shuttle tanker project. The joint company is called Viken MOL AS, and will be managed from Viken Shipping's office in Bergen.

The initial investment by the joint company will be the acquisition of a company of Viken Shipping Group, which owns five crude oil shuttle tankers currently serving on long-term charter contract with Petrobras Transporte S.A. of Brazil (Transpetro), a wholly owned petroleum and gas transport subsidiary Petrobras, Brazil's national oil company.

MOL and Viken Shipping share an ambition to develop long term cooperation through Viken MOL AS, centered on joint investments in high quality vessels under long-term contracts with reputable charterers. Although the initial investment is in crude oil shuttle tankers, the joint venture is not intended to be restricted to this marked segment only.

Offshore business including shuttle tankers will become the backbone of MOL operations as it seeks to secure mid- and long-term contracts that generate stable profits. This partnership reflects MOL's ongoing commitment to participate in worldwide energy transport projects.

[ Profile of Viken MOL ]

Headquarters : Bergen, Norway
Shareholding ratio : MOL 50%
Viken Shipping Group 50%

Top of Page