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MOL News Highlights for 2007

December 26, 2007

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL; President Akimitsu Ashida) today announced the company's top news stories for 2007.

Another year of record-high profits

  • Consolidated ordinary income for FY2006, ended in March 2007, totaled ¥182.5 billion, the fourth consecutive year of record high performance. The company raised dividend payments. Dividends for the year totaled ¥20 per share, including a ¥9 interim payment.(April)
  • The interim financial results for FY2007, ending March 2008, also marked a strong increase both in revenue and income from the same period of FY2006. The company executed an interim dividend payment of ¥14.(October)

New midterm management plan MOL ADVANCE (March)

  • MOL set forth the three-year midterm management plan, under the theme "Growth with enhanced quality" - ensuring safe operation is the highest priority, while achieving sustainable growth and enhanced quality. The plan calls for a fleet of 1,000 vessels in March 2010.

Comprehensive measures to reinforce and ensure safe operation

  • Safety Operation Supporting Center Opened (February)
  • Internal sessions "Safe Ship Operation: Learning from Incidents" held (March)
  • Ship management organization restructured, and Safety Operations Headquarters organized (March)
  • Training vessel SPIRIT OF MOL launched, onboard training started (July)
  • Training session held aboard a VLCC to combat piracy and terrorism (December)

Introduction of new MOL Group logo mark (March)

Focusing management resources on growing fields in the ocean shipping industry

  • MOL decided to build 44 iron ore carriers from April 2007 to early 2012, to meet rising demand for transport of iron ore in step with worldwide economic growth (April)
  • The company decided to increase its bulkship fleet by 60 vessels from April 2007 to early 2012, considering overall trends in the bulk cargo market and anticipating that a strong dry bulker market will continue. (April)
  • 8,100 TEU containership MOL Creation launched (June)
  • World's largest iron ore carrier, the Brasil Maru, launched (December)

Accelerating globalization and reinforcing business strength in growing markets

  • MOL (Europe) B.V. established a Poland Branch (March) and its wholly owned agency in Italy (June), and wholly owned agencies in four Nordic nations (December)
  • Mitsui O.S.K. Lines Pakistan established (April)
  • MOL (China) established 27th office in Zhengzhou (July)
  • Mitsui O.S.K. Lines (India) established branches in Chennai, Kochi, Tuticorin, and Kolkata (June)
  • MOL established a representative office for bulkship business in India (November)
  • MOL opened St. Petersburg office in Russia (December)

Reinforcing Group-wide strength and competitiveness

  • Merger of MOL Ferry Co., Ltd. and Kyushu Kyuko Ferry Co., Ltd. (June)
  • Merger of The Diamond Ferry Co., Ltd. and Blue Highway Line West Japan (July)
  • Daibiru Corporation and Mitsui O.S.K. Kosan Co., Ltd. consolidated real estate/building management business (July)

MOL's strengthened financial position brings higher credit rating

  • Standard & Poor's credit rating increases from BBB to BBB+) (August)
  • Moody's Investors Service upgrades from Baa1 to A3 (November)
  • JCR upgrades rating from A+ to AA- (November)

Expanding container terminal business

  • Construction of new U.S. container terminal in Jacksonville, Florida starts (February)
  • MOL was awarded a contract to operate a new container terminal at Maasvlakte 2 in the Port of Rotterdam (July)
  • Solar power system in Ohi Container Terminal (Tokyo International Container Terminal Solar Power Station) started full operation (March)