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)