MOL to Establish MOL Logistics (Tank Containers)

Source: www.gulfoilandgas.com 6/23/2021, Location: Asia

Mitsui O.S.K. Lines, Ltd. (MOL) announced that MOL, Nippon Concept Corporation (NCC; President: Takayoshi Matsumoto; Headquarters: Chiyoda-ku, Tokyo), and MOL Logistics Co., Ltd. (MLG; President: Shuhei Togo; Headquarters: Chiyoda-ku, Tokyo) have decided to jointly establish MOL Logistics (Tank Containers) (MLGTC) within this month. The new JV will deepen the MOL Group's business alliance with NCC and expand and strengthen its business partnership related to tank container transport globally, with a start in Asian region, while serving as the headquarters of NCC's overseas agency business.

NCC is an international logistics company using tank containers (Note 1), and concluded a capital and business alliance agreement with MOL in 2018 (Note 2). MOL acquired 15% of NCC's issued shares, and moved ahead with cooperative measures such as sharing and mutual use of each company's overseas offices and business networks. MLG, which serves as a core of the MOL Group logistics business, already handles NCC's overseas agency business in Mexico, Myanmar, and Vietnam. Establishment of MLGTC will extend areas of the business alliance and further accelerate collaboration in business and cargo transport operations using tank containers. Specifically, MLG will extensively intensify its agency business on NCC's behalf, starting in Thailand and other major Asian countries showing tremendous growth in demand for chemical products, such as China and India. In addition, by leveraging MOL and MLG's networking capabilities, MLGTC will maximize the synergetic effects of NCC's know-how and track record in door-to-door international multimodal transport services for liquid cargoes and various types of gas. In the future, the three companies will expand the business alliance, and work together as one to offer safe, high-quality transport of chemical products on a global scale.


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