Mitsui OSK Lines (MOL), Japan’s largest shipowner by fleet numbers, is investing some of its profits made during a bumper 2021, to diversify revenues, including upping its exposure to real estate.
MOL announced today it has moved to buy out all remaining shares in two group companies, project logistics specialist Utoc and property firm Daibiru, the latter of which MOL said it would look to add more overseas properties to its portfolio soon.
MOL has repeatedly upped its full year financial forecasts this year, largely thanks to the strong earnings from boxline Ocean Network Express (ONE) in which it has a one-third holding. A strong year for dry bulk and LNG have also propelled earnings, two sectors in which MOL boasts very large fleets.
