TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today
announced the opening of a new subsidiary in Pakistan effective April 16.
Mitsui O.S.K. Lines Pakistan (Pvt.) Ltd. will handle all MOL's liner and
non-liner business and ocean consolidation business (OCB). The new company
will assume the duties currently handled by Asiatic Shipping Agencies(Pvt.)
as MOL's sole agent in Pakistan.
MOL had been expanding various ocean shipping businesses with Asiatic Shipping
Agencies(Pvt.) as its sole agent in Pakistan, but now deems it necessary
to establish an agency with its own capital to continue its expansion strategy
in Pakistan, which is experiencing tremendous economic growth.
The new company aims to expand MOL's global network and increase business
by improving customer service and by implementing cost reduction, under
control of MOL's subsidiary MOL (Asia) Ltd. in Hong Kong, which oversees
operations throughout Asia.
Profile
| Company name |
: Mitsui O.S.K. Lines Pakistan(Pvt.)Ltd. |
| Location |
: Karachi, Pakistan |
| Start of Operation |
: April 16, 2007 with the M/V MOL Ability V.005 arriving in Karachi on
April 15 |
| Paid-in-capital |
: PKR 12,000,000 (about US$200,000) |
| Business |
: Sole agency for MOL liner and non liner business and ocean consolidation
business (OCB)* |
| Coverage area |
: All of Pakistan |
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| Management |
: Chairman
Managing Director
Director |
Michael Goh
Sabir Banatwala
Siraj Banatwala |
| Number of employees |
: 41 |
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