Japan’s Mitsui OSK Lines (MOL) has started the integration process of MOL Nordic Tankers (MOLNT) into MOL Chemical Tankers (MOLCT), having acquired the company in January, and expects the process to be completed by next year.

As part of the change, MOL Nordic Tankers has parted ways with CEO Per Sylvester Jensen and CFO Henriette Schütze.

Tsuneo Watanabe, CEO of MOL Chemical Tankers, takes over as CEO of MOL Nordic Tankers in addition to his current role. Additionally, Annette Hasenberg enters as executive vice president.

MOL Nordic Tankers headquarters will move to Singapore.

Watanabe, commenting on the changes, said: “The MOLNT business and trade lanes are of high value and a very important part of our core business and ambitious plans to grow MOLCT into being one of the most attractive and leading chemical tanker companies worldwide.”