Japan’s MOL is to integrate its tanker division with affiliate Tokyo Marine to position the company for emerging liquid bulk opportunities.
“New organisations within the respective companies have been created to co-operate in capturing new trends in the tanker business such as the transport of ethanol and growing quantities of chemical products and vegetable oil,” said MOL tanker project group manager Hiroaki Okada.
The tanker project group had been created to work alongside Tokyo Marine’s chartering and project centre in an effort to capture tanker opportunities across a wide range of vessel classes, Mr Okada said.
“MOL offers transport services of crude oil, petroleum products and chemical products, especially methanol, with tankers, product tankers and methanol tankers. MOL’s vessels are generally above 40,000 dwt,” he said.
“Tokyo Marine transports mainly parcel chemical products and vegetable oil using tankers of about 20,000 dwt. The group now has the world’s largest fleet of very large crude carriers, medium range tankers and methanol tankers, and ranks third in the world in chemical tankers,” he said.
Under the new arrangement, MOL said it would have a greater ability to participate in new and emerging seaborne trade in the carriage of biofuels such as ethanol, while providing a quicker response to the increased trade in liquefied chemical products, which now call for larger tankers at chemical plants located in the Middle East, as opposed to earlier sites located closer to consumer countries.
“We also see opportunities in increased carriage of vegetable oils processed in Southeast Asia for consumption in Europe.”
“New organisations within the respective companies have been created to co-operate in capturing new trends in the tanker business such as the transport of ethanol and growing quantities of chemical products and vegetable oil,” said MOL tanker project group manager Hiroaki Okada.
The tanker project group had been created to work alongside Tokyo Marine’s chartering and project centre in an effort to capture tanker opportunities across a wide range of vessel classes, Mr Okada said.
“MOL offers transport services of crude oil, petroleum products and chemical products, especially methanol, with tankers, product tankers and methanol tankers. MOL’s vessels are generally above 40,000 dwt,” he said.
“Tokyo Marine transports mainly parcel chemical products and vegetable oil using tankers of about 20,000 dwt. The group now has the world’s largest fleet of very large crude carriers, medium range tankers and methanol tankers, and ranks third in the world in chemical tankers,” he said.
Under the new arrangement, MOL said it would have a greater ability to participate in new and emerging seaborne trade in the carriage of biofuels such as ethanol, while providing a quicker response to the increased trade in liquefied chemical products, which now call for larger tankers at chemical plants located in the Middle East, as opposed to earlier sites located closer to consumer countries.
“We also see opportunities in increased carriage of vegetable oils processed in Southeast Asia for consumption in Europe.”