Mitsui OSK Lines
“Market Cap $4.73 B As of May 2014
At a Glance
- Industry: Other Transportation
- Founded: 1942
- Country: Japan
- CEO: Koichi Muto
- Website: www.mol.co.jp
- Employees: 9,465
- Sales: $17.06 B
- Headquarters: Tokyo
#1251 Global 2000
- #560 in Sales
- #981 in Assets
Mitsui O.S.K. Lines Ltd. engages in marine transport services such as bulkships, bulk carriers, tankers, liquefied natural gas carriers, and container vessels. Its operations are carried out through the following segments: Bulkships, Containerships, Ferry and Domestic Transport, Associated Business, and Others. The Bulkships segment includes dry bulkers, tankers, LNG carriers, and car carriers. The Containerships segment operates containerships, container terminals, and transportation agency. The Ferry and Domestic Transport segment provides passenger and domestic cargo transport services. The Associated Business segment provides includes real estate, cruise business, tugboat industry, trading business, construction and personnel dispatch. The Others segment includes ship operations, ship management, and financing. The company was founded in 1964 and is headquartered in Tokyo, Japan.“
“Mitsui OSK Lines History
|1878||The iron-hulled steamer HIDEYOSHI MARU begins ocean transport of Miike coal from Kuchinotsu (Japan) to Shanghai.|
|1884||Osaka Shosen Kaisha (OSK Lines) is founded.|
|1930||The high-speed cargo ship KINAI MARU is launched, and covers the Yokohama-New York route in 25 days and 17.5 hours, well below the industry average of 35 days.|
|1939||The ARGENTINA MARU and BRASIL MARU are built and launched as cargo/passenger liners on the South America route. These vessels represent the state-of-the-art in Japanese shipbuilding at the time.|
|1942||Mitsui & Co. spins off its shipping department to create Mitsui Steamship Co., Ltd.|
|1961||World’s first automated ship, the KINKASAN MARU, with an engine room operated entirely from the bridge, is launched. Automation reduces the number of seafarers from 52 to 38.|
|1964||Japan’s shipping industry undergoes a major consolidation, with mergers creating six companies — Mitsui O.S.K. Lines, Ltd. (MOL) by a merger of OSK Lines and Mitsui Steamship, Japan Line, Ltd. (JL) by a merger of Nitto Shosen and Daido Kaiun, and Yamashita-Shinnihon Steamship Co., Ltd. (YSL) by a merger of Yamashita Kisen and Shinnihon Kisen.|
|1965||Japan’s first specialized car carrier, the OPPAMA MARU, is launched.|
|1968||MOL, JL, and YSL launch the full containerships AMERICA MARU, JAPAN ACE, and KASHU MARU, respectively, on the Japan-California route.|
|1984||LNG carrier SENSHU MARU is launched.|
|1989||Japan’s first full-fledged cruise ship, the FUJI MARU, is launched, ushering in the era of leisure cruises in Japan.
Navix Line is established by the merger of JL and YSL.
|1990||The Fuji Maru’s sister ship, the NIPPON MARU, joins the fleet.|
|1993||Crew training school is established in Manila.|
|1995||Container route service through a strategic international tie-up called The Global Alliance (TGA), begins.
The first double hull very large crude carrier (VLCC) the ATLANTIC LIBERTY, is launched.
|1998||The New World Alliance (TNWA) is inaugurated.|
|1999||New Mitsui O.S.K. Lines is established by the merger of MOL and Navix Line.
MOL Japan is established.
|2000||MOL Environmental Policy Statements are issued.|
|2001||MOL Group Corporate Principles are established.|
|2003||All departments at the Head Office and MOL-operated vessels acquire ISO14001.|
|2005||MOL participates in the UN-backed Global Compact.|
|2007||Safety Operation Supporting Center is established in the Head Office.
MOL Group logo mark is introduced.
Training vessel SPIRIT OF MOL is launched.
The World’s largest iron ore carrier, BRASIL MARU, is launched.
|2009||Next-generation vessel concept Senpaku ISHIN project announced.|
|2010||New MOL Technology Reserch Center opens.|
|2012||The Emerald Ace is launched.
G6 Alliance formed.
|2013||Subsidiary established in Myanmar.
Training ship Spirit of MOL is retired and succeeded by new Cadet Actual Deployment for Education with Tutorial (CADET) training program.
Business and vessel operations of about 130 dry bulkers are transferred to Singapore.
*Information from Forbes.com and Mol.co.jp
**Video published on YouTube by “synertree“