President: MOL to Focus on LNG

Mitsui O.S.K. Lines (MOL) of Japan plans to invest in LNG tanker and offshore businesses as part of its growth strategy for 2014, the company’s President Koichi Muto said in his annual message to staff on Monday.

“The key priority for MOL in 2014 will be to define the key points of its growth strategy-the third arrow-and to execute it. With no immediate prospects for any appreciable increase in market prices in the marine transport industry, MOL must be mindful of the added value it can generate and the services it can sell,” Muto stressed.

“We must focus on sharpening our skills in those areas. In the LNG carrier and offshore businesses, -growing fields that are expected to generate stable profits over the long term-we will invest management resources to expand these businesses,” he said.

In April 2014, MOL will celebrate its 130th founding anniversary. This occasion will also mark 50 years since the merger of the company’s predecessors, Osaka Shosen Kaisha (OSK Lines) and Mitsui Steamship, and 15 years since the formation of the new MOL through a merger of Mitsui O.S.K. Lines and Navix Line.

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LNG World News Staff, January 08, 2014; Image: MOL