Mitsui OSK Lines has established a new agency called Trans Russia Agency Japan Co, in a joint venture with the Far Eastern Shipping Company (FESCO) and Azuma Shipping Co.
The new agency was established by consolidating MOL's wholly owned agency, Navix Transport, and FESCO's agency, United Orient Shipping & Agency Co, which was owned by Azuma Shipping (35.5%), FESCO (25%), and MOL (14.5%).
Both companies have provided agency services since the launch of Japan-Russia liner service in 1958.
The new company will begin operations on March 1st, at which time Navix Transport and United Orient Shipping & Agency will be withdrawn and will move into liquidation proceedings.
The move will help MOL meet customer needs in the Russian market, which is positioned for continued growth.