Japan’s Mitsui OSK Lines plans to double its business in terms of volumes in India with the launch of a new direct box service between India and China next week, company officials said Tuesday, Seatrade Asia online reports.
It also intends to change focus from China to India.
The weekly container service via Singapore will double the volumes to eight percent. Currently India accounts for four percent at 160,00 teu.
MOL vice chairman Masakazu Yakushiji told reporters here that a 2,000 teu capacity ship will link Nhava Sheva port to China.
Yakushiji, who inaugurated the company's data processing facility here, said MOL would be shifting its focus from China to India in view of the changes in the Chinese economy.
China currently accounts for 40 percent of MOL's business but the company is now looking at India as the costs are going up in south China, he said.
'The lower and labour-intensive work from south China is migrating to the western part of the country or to Vietnam and Indonesia. This is a challenge for us,' he said.
'India offers a variety of opportunities in consumer goods, auto parts, energy, raw materials like iron ore and coal,' he said.
MOL also plans direct services from India to US and Europe. Currently the services are routed through its hub in Colombo. It’s also eyeing India's west coast with a new terminal coming up at Vallarpadam in Kochi.
Sundeep Sibal, head of West Asia operations of MOL, said the data processing centre at Hyderabad is its second such facility in India. The first centre had come up at Mumbai in 2004.
The weekly container service via Singapore will double the volumes to eight percent. Currently India accounts for four percent at 160,00 teu.
MOL vice chairman Masakazu Yakushiji told reporters here that a 2,000 teu capacity ship will link Nhava Sheva port to China.
Yakushiji, who inaugurated the company's data processing facility here, said MOL would be shifting its focus from China to India in view of the changes in the Chinese economy.
China currently accounts for 40 percent of MOL's business but the company is now looking at India as the costs are going up in south China, he said.
'The lower and labour-intensive work from south China is migrating to the western part of the country or to Vietnam and Indonesia. This is a challenge for us,' he said.
'India offers a variety of opportunities in consumer goods, auto parts, energy, raw materials like iron ore and coal,' he said.
MOL also plans direct services from India to US and Europe. Currently the services are routed through its hub in Colombo. It’s also eyeing India's west coast with a new terminal coming up at Vallarpadam in Kochi.
Sundeep Sibal, head of West Asia operations of MOL, said the data processing centre at Hyderabad is its second such facility in India. The first centre had come up at Mumbai in 2004.