AsiaContainersDry CargoGasTankers

MOL announces massive restructuring

Japan’s largest shipping line has announced a sweeping restructuring and a raft of senior management changes in its largest corporate shuffle this decade.

Mitsui OSK Lines (MOL) is creating a technology innovation unit and a new position, chief technical officer. Moreover, MOL is to finally install a chief financial officer who will supervise planning of strategies and measures to promote optimal groupwide funding and financial strategies.

Among other changes announced today, the head office organisation in Tokyo, which is made up of divisions and offices, will be unified into just divisions, to restructure and organise the organisational system and allow divisions to more effectively allocate their resources.

MOL’s tanker division – one of the world’s largest – will now be split in two. Tanker Division (A) will focus on crude tankers and Tanker Division (B) will control the company’s product and methanol carriers.

The changes are due to go into effect on April 1, the same day MOL cedes control of its container business to Ocean Network Express (ONE), the new liner giant created by the merger of the box fleets of MOL and Japan’s other two shipping majors, Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line).

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button