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February 24, 2017

MOL to Invest in Self-Elevating Platform Vessel Operator
- Moving into Offshore Business Following FPSO, FSRU, Shuttle Tanker, and Subsea Support Vessel -

One of the world's largest Self-Elevating Platform vessels, the Seajacks Scylla, owned and operated by Seajacks
One of the world's largest Self-Elevating Platform vessels, the Seajacks Scylla, owned and operated by Seajacks

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced a plan to acquire a 5% share in Seajacks International Limited (Seajacks) Group, which owns and operates five Self-Elevating Platform vessels (*1), from Marubeni Corporation (headquarters: Chuo-ku, Tokyo; President and CEO; Fumiya Kokubu).

This is a new offshore business for MOL, following FPSO(*2), FSRU (*3), shuttle tanker (*4), and subsea support vessel (*5). It is also the first step to move into the renewable energy business field through involvement in installation of offshore wind power generation systems, which is expanding in Europe and other areas around the world.

MOL continually contributes to environmental protection in areas and ports worldwide, and takes a proactive stance in promoting thoroughly safe operation and ocean and global environmental protection in compliance with our corporate principles.

[Outline of Seajacks]

Founded 2006
Location Great Yarmouth, Norfolk, U.K.
Representative William Burton Blair Ainslie (Director)
Business Installation of offshore wind power generation turbines and related facilities, offshore oil and gas platform services.

(*1) The platform is equipped with legs that rest on the seabed and move up and down. The vessel installs offshore wind power generation systems by moving the platform up to the sea surface with a crane. By raising and maintaining a level higher than the waves, the generators can operate even in rough seas. It can be used not only to install offshore wind power generation systems, but also to help maintain offshore oil and gas rigs.

(*2) Floating Production, Storage & Offloading System. For details, please refer to "Offshore Business" on the MOL website.

(*3) Floating Storage and Regasification Unit. It has the capability to regasify LNG at sea and transfer the gas under high pressure to pipelines on shore. For details, please refer to the press release on July 22, 2016: MOL Signs Deal on Long-Term Charter Contract for Uruguay LNG FSRU Project.

(*4) For details, please refer to the press release on September 3, 2014: MOL, Viken Shipping Conclude Partnership.

(*5) For details, please refer to the press release on November 24, 2016: MOL Moves into Offshore Vessel Support Field.

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