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MOL to Establish Subsidiary in Pakistan
April 03, 2007
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 |
| Management | : |
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| Number of employees | : | 41 |
* When a single European or U.S. shipper buys products manufactured in multiple plants in China and other Asian countries, the products are consolidated in containers at loading ports and transported to the consignee.