MOL Committed to Further Business Expansion

Mitsui O.S.K. Lines, Ltd. hosted a party in Singapore on November 7 for customers, business partners, government officials, and others. MOL emphasized the strategic importance of Singapore, and introduced group companies that operate businesses in the island nation.

The event, held at the Intercontinental Hotel Singapore, was attended by more than 350 guests including Singapore Transport Minister Lui Tuck Yew and Japanese Ambassador to Singapore Haruhisa Takeuchi, as well as MOL Group business partners and customers.

During his address, MOL President Koichi Muto expressed his appreciation to the Singapore government for its ongoing support of the ocean shipping industry, and thanked customers and others concerned for their understanding and support of MOL Group businesses.

Following President Muto’s address, Minister Lui expressed high expectations for the MOL Group’s continued success in global markets and further expansion of its business in Singapore.

The MOL Group set forth “enhancing business expansion in overseas markets” as a key objective of its Single-year Management Plan RISE 2013. In Singapore, the group has been expanding its tanker business, as more ocean shipping businesses have clustered there in recent years. Also, it started expanding dry bulker business and vessel operations in Singapore at the beginning of this year.

At present, 12 MOL Group companies, including the core company Mitsui O.S.K. Bulk Shipping (Asia Oceania), are based in Singapore, employing more than 500 people.

Mitsui Lines, November 11, 2013

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