Japan’s Mitsui OSK Lines (MOL) has announced its plan to merge wholly owned subsidiaries MOL Marine and MOL Engineering. The merger is expected to be effective from April 1.
MOL Marine is mainly involved in the consultancy business related to port harbor facilities and marine traffic, as well as seafarer training. It also manages submarine cable-laying vessels. MOL Engineering’s specialty has been inspection and maintenance of marine equipment.
MOL believes the merger will positively affect the company’s offshore businesses and the autonomous shipping development.
“The dynamic positioning system that enables precise positioning of vessels under various marine conditions which MOL Marine has developed through submarine cable-laying, and the extensive engineering experience of MOL Engineering will be MOL Groups unique competency that will contribute to area’s such as floating LNG power generation and offshore wind power generation. The offshore technology will be concentrated in close cooperation with MOL and will evolve the merging companies to a further advantage both in safety and technology,” MOL said in a release.