MOL: Evolving Regulations are a Business Opportunity

by Ship & Bunker News Team
Tuesday October 7, 2014

Mitsui OSK Lines (MOL) President Koichi Muto says evolving environmental regulations are an opportunity for the shipping company to pursue growth.

Writing in the company's Environmental and Social Report 2014, Muto said the international shipping industry is in the midst of an era of environmental regulations, which he hoped to turn to the company's advantage by focusing on its environmental credentials.

"MOL views these evolving regulations as a business opportunity," he said.

"MOL will leverage its practical environmental technologies and know-how to attain a competitive advantage and advance toward further growth."

The report points to environmentally friendly innovations already in use at MOL as assets, emphasising its Senpaku ISHIN next-generation vessel project.

Muto said its Emerald Ace hybrid car carrier had been well received by car manufacturers looking to bolster environmental credibility and that its Azul Brisa large bulk carrier could achieve a 5 percent fuel reduction in fuel consumption by employing a waste heat energy recovery system.

Muto also said MOL's publishing of the company's emissions data for its box ship business had received "immense praise" from customers.

MOL has said it is following a management plan designed to deliver growth in the short to medium term, dubbed Steer to 2020, following a reported swing back to profitability in its 2013 results.

Ship & Bunker News Team
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