MOL restructures management system

Mitsui OSK Lines (MOL) announced a restructuring of the company?s ship management system to enhance the company?s safety program in the light of its plan to expand its fleet from about 700 vessels today to 900 by the end of March 2010, based on the mid-term management plan MOL STEP Review.

In addition to two new firms, the restructured system includes a total of six companies ? two in Tokyo (M.O. Ship Management, Mitsui Kinkai Kisen Co., Ltd.), one in Hong Kong (New Asian Shipping Co., Ltd.), and three others in Rotterdam, Singapore, and Manila). The restructuring will meet the needs of MOL?s expanding fleet and worldwide network. Each of the six companies will manage an appropriate number of vessels to ensure thorough on-site supervision.

In the future, MOL plans to reorganize ship management companies for containerships, car carriers, and bulk carriers both in Japan and overseas, under a management company that will assume headquarters functions.