Japanese shipping major Mitsui O.S.K. Lines (MOL) will merge its subsidiaries MOL Marine and MOL Engineering, effective 1 April 2021. The MOL Group regarded expectations for a more efficient value chain as an opportunity to align an organization that can take on the demands by providing seamless services, through the merging of the two companies.
A positive impact on the company’s offshore businesses and the autonomous shipping development is expected after the merge. These business fields are emphasized by the MOL Group as the ones on which to concentrate its management resources.
The companies were both established in In 1988. MOL Marine deals with consultancy related to port harbor facilities and marine traffic, training of seafarers using large simulators. It also manages submarine cable-laying vessels. MOL Engineering is involved with the inspection and maintenance of marine equipment, including migration to evolving international regulations.
Through submarine cable-laying, MOL Marine has developed a dynamic positioning system that enables precise positioning of vessels under various marine conditions. This, combined with the extensive engineering experience of MOL Engineering, is planned to serve as MOL Group’s unique competency that will contribute to areas 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.
Source: World Maritime News