MOL Announces Restructuring Measures

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Mitsui O.S.K Lines, Ltd, Junichiro Ikeda MOL’s president has announced that it will restructure the organization effective April 1, 2019, as follows

First, MOL will establish a new position of Chief Safety Officer. It is important for MOL to establish this type of position to supervise the planning of strategies and conduct measures to ensure the safety and quality of operations of MOL and the entire MOL Group fleet vessels, and give necessary advice to executive officers responsible for business divisions.

MOL has decided to establish an Executive Officer responsible for the promotion of Sustainability. The main role of this position will be to supervise the planning of strategies and conduct and aggressively promote measures aimed at contributing to Sustainable Development Goals (SDGs) through MOL Group’s sustainable growth and business activities.

MOL will also allocate an executive officer responsible for Europe/Africa and the Americas respectively, which up to the present have been supervised by one executive officer. This decision has been made to ensure faster decision-making and maximize the MOL Group’s overall profits in each region.

MOL wants to restructure the Ship Management Organisation to maximise the profit and be more productive. Then, with the aim of speeding up the establishment of countermeasures and preventative measures for onboard problems and enhance ship maintenance while ensuring the long-term safety and profitability of MOL’s vessel assets, MOL will integrate supervising functions of tankers, dry bulkers, car carriers, and containerships to establish the new Marine Technical Management Division to manage the fleet, with the goal of establishing MOL as the world leader in safe operation.

MOL will divide the businesses of Dry Bulk Carrier Division (B) by cargo into the Wood Chip Carrier Division and the Bulk Carrier Division, to offer stress-free services because it is important for MOL to meet customer needs in both fields. MOL will rename the Dry Bulk Carrier Division into the Iron Ore and Coal Carrier Division.

MOL will also rename The Steaming Coal Carrier Division which will become the Steaming Coal &
Energy Project Division, reflecting the role of the organization in providing coal transport services to meet changing customer needs, and engaging in related fields and energy projects such as coal ash and biomass, to offer stress-free transport services.