TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced the company’s top news stories for 2016 as follows:

  1. ‘Strengthening Management Foundation’: Innovation to Meet the Challenge of Change

<Moving ahead with Reforms>

  • Implementing ‘Business Structural Reforms’
  • Significant downsizing of market exposure in Dry Bulkers
  • Recording an impairment loss on owned vessels, route rationalization, and fleet optimization in the containership business
  • Developing and executing a single-year management plan to promote structural reforms in place of the midterm management plan STEER FOR 2020
  • Agreement to integrate container shipping business with ‘K’ Line and NYK and start operation in April 2018 (October)

<Strengthening Sales Capabilities by Promoting ‘One MOL’>

  • Establishing Dry Bulk Business Unit and Energy Transport Business Unit (February)
  • Appointing Chief Country Representatives for nations in Asia, Middle East, and Oceania, as well as Mexico and Brazil (April, December)

<Strengthening Sales Capabilities by Differentiation>

  • Launching ‘ISHIN NEXT – MOL SMART SHIP PROJECT’ (November)
    – Enhancing business capabilities and increasing corporate value –
  • Establishing New Smart Shipping Office (December)
  • Trial use of big data onboard an in-service vessel to promote growth of maritime cluster (February)
  • Cooperating with Yokohama National University to launch a joint study on practical use of AI to analyze big data for ocean shipping (August)
  1. Deepening ‘Portfolio Management’ in Each Business

<Dry Bulker Business Unit>

  • Wood chip carrier S. Bright delivered – featuring environment-friendly specifications (January)
  • Naming ceremony for Iron ore carrier Shinzan Maru held — environment-friendly/safety-conscious next-generation vessel (November)
  • Anticipation of reaching target for downsizing of market exposure as a part of Business Structural Reforms

<Energy Transport Business Unit>

  • Delivering LNG carriers built in China (April, October)
  • Participating in coastal LNG shuttle transport project in Indonesia (May)
  • Concluding long-term charter contract for Uruguay LNG FSRU project (July)
  • Delivery of 3 methanol carriers equipped with methanol/heavy oil dual-fueled engines (April, September, November)
  • Concluding a contract for ocean transport with Shikoku Electric Power Co., Inc. — ordering a cutting-edge vessel to succeed the coal carrier Tachibana — (October)
  • Delivery of world’s first very large liquefied ethane carrier — participating in liquefied ethane transport (November)
  • Entering the subsea support vessel business, providing capability to install subsea facilities in deep-sea oil/gas fields (November)

<Car Carrier Business>

  • Finalizing new hull design for the FLEXIE next-generation series of car carriers (April, November)

<Containership Business, Port/Logistics Business>

  • Announcing establishment of THE Alliance by six companies (May)
  • Upgrading Asia/South America East Coast service (February)
  • MOL Logistics: Subsidiary in Myanmar starts operation (May)
  • TraPac Los Angeles: Automated loading/unloading operations proceeding smoothly; installation of on-dock rail facility completed (October)

<Ferry/Coastal RORO Ships, Associated Businesses>

  • MOL Ferry: Announcing plan to enhance Tokyo/Karita route services with newbuilding RORO ships (October)
  • MOL Passenger Line: First co-sponsorship of ‘Setouchi International Art Festival 2016’ cruise with Mitsui Fudosan (October)
  • Daibiru: Shin Daibiru Restaurant & Shops fully open (May)
  1. Aiming to ‘become the World Leader in Safe Operation’ and ‘Environmentally Advanced Company’
  • Breaking ground on new maritime academy in Philippines (March)
  • ‘MOL Body FIT Exercise’ program receives ‘MILT Best Practice Award for Seafarers’ Onboard Safety, 2016’ (October)
  • Receiving Marine Engineering of the Year award for methanol burned dual-fueled low-speed diesel main engine (July)
  1. MOL Group’s CSR/Social Contribution Activities: Connecting with the World
  • ‘Marine Day’ event: Car carrier tour held, about 200 families participate (July)
  • Holding events as a part of ‘Sea and Japan Project’ nationwide (Tokyo, Yokohama, Oita, etc.)
  • Supporting people afflicted by Kumamoto earthquake (April)
  • Efforts to aid quake-stricken areas of Ecuador (June)
  • Cooperation on international transport of:
  • Fire engines to Paraguay (January)
  • Used wheelchairs for children to Philippines (February)
  • Mobile library vehicles to South Africa (March)
  • Sporting goods to Ghana (November)
  • First company in ocean shipping industry to receive SMBC Nadeshiko Loans (January)