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December 25, 2014

MOL News Highlights for 2014

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the company's top news stories for 2014 as follows:

Midterm Management Plan STEER FOR 2014 started

  • The three-year midterm management plan STEER FOR 2020, outlines the vision for the MOL Group in 2020 and sets the course to reach that destination. The group aims at ¥100 billion in ordinary income in FY2016 ending March 31, 2017 under the main theme "Solid growth through innovative changes." (April)

Proactive business expansion

(LNG carriers)
  • Reached deal on joint ownership of a new LNG carrier for Chubu Electric Power Company(May)
  • Signed deal to charter two LNG carriers for Mitsui Corporation that will serve the Cameron Project in the U.S. (September)
  • Signed basic agreement for charter contracts, reached a deal to build three new LNG carriers for Tokyo Gas. (February, November, December)
  • Signed strategic association with Reliance for transportation of Liquefied Ethane from United States to India. This will make MOL to be the first shipping company who is dedicated for a continuous Liquefied Ethane transportation by Very Large Ethane Carriers (VLEC). (December)
(Offshore business)
  • Signed deal to build three ice class LNG carriers for the Yamal LNG project in Russia. (July)
(Car carriers)
  • Launched Mexico-NAFTA car carrier service. (April)
(Tankers)
  • Signed deal to build and charter six methanol carriers for MHTL and AMPCO. (February)
  • Established a joint venture with Viken of Norway, setting the stage for a move into the shuttle tanker business. (September)
  • Began joint ship management and crewmember training businesses with Singapore-based Synergy Group. (October)
(Containerships)
  • Reached deal on strategic alliance with Brookfield. (January)
  • G6 Alliance started Asia-North America East Coast and Atlantic Ocean services. (May)

Ongoing initiatives toward setting "the world's highest standards in safe operation"

  • Received "Award of Excellence" from Philippine Overseas Employment Administration. (February)
  • Four MOL-operated/managed vessels selected as "2013 Best Quality Ships" by the Japan Federation of Pilots' Associations. (April)
  • MOL-operated Soma Maru named "Bulk Ship of the Year" at the IBJ Awards 2014. (November)

New initiatives on environmental protection

  • Took delivery of a vessel equipped with a waste heat energy recovery system, which is a core element technology of ISHIN-III. (July)

Social contribution activities in commemoration of the 130th anniversary of MOL's foundation

  • Implemented educational support-"Connect with books-Tohoku support activities," and "Career education lecture" for areas afflicted by the Great East Japan Earthquake. (April-November)
  • Presented framed vessel photos to crewmember educational institutes in Japan. (September)

Social contribution activities

  • Pledged emergency support to combat spread of Ebola. (September)

Compliance

  • In response to the Japan Fair Trade Commission's announcement regarding certain car carrier shipping trades, MOL developed measures to enhance our compliance structure(March).

Group-wide business expansion

  • Wholly owned subsidiary Daibiru concluded a contract to acquire an office building in Hanoi, its second property in Vietnam. (July)
  • Two group companies merged into MOL Marine Co, Ltd., which continues to develop marine consulting, cable ship, and marine technology training businesses. (October)
  • MOL Ferry Co., Ltd. announced plans to replace current vessels with two newbuilding energy-saving/high-speed ferries serving the Hokkaido route. (October)

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