Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) announced that on March 14 in Seoul, Korea, its wholly owned subsidiary in Hong Kong, MOL Hong Kong Limited (MOLHK) signed a lease agreement with YALE GLS Logistics (YALE; CEO: Hyungdo Cha), a logistics company in Seoul, Korea, for the MOL COILPORTER® (see video and overview below), an innovative system for lashing steel coils during containerized transport of steel coils, jointly developed by MOL and its group companies.
The MOL COILPORTER® is the new cradle used to lash steel coils, an essential material for automobile manufacturing and other industries, to ensure safer containerized transport.
Differences from the conventional lashing are as follows.
Since its commercialization in April 2020, the MOL COILPORTER® has been used mainly by domestic customers in Japan, and in October 2022, 1,000 coils were transported safely and securely from Kobe to Okinawa. (Note 1)
Furthermore, since the MOL Group has received many inquiries from overseas customers, it has established an organization to promote MOL COILPORTER® sales and leasing at MOLHK, to meet the needs of domestic and overseas customers.
The lease agreement with YALE was resulted from a series of discussions between YALE and MOLHK. YALE and MOL Group will work together to promote the use of the MOL COILPORTER® as a solution for the import/export of steel coils to/from Korea as well as for domestic transport in the country.
In addition, leveraging the strength of its independently developed products, MOL will continue the improvement and development led by MOLHK, and respond to various problems and needs in the transport of steel coils, wire coils, and other related products, both in Japan and overseas.