CORPORATE ANNOUNCEMENT
16 December, 2002
MOL News Highlights for 2002
TOKYO – Mitsui O.S.K. Lines, Ltd. (MOL; President Kunio Suzuki) today announced the company’s top news stories for 2002, as follows:
- MOL Expands LNG Transport New Contracts and Its Trade in Global Scale
MOL concluded the following contracts, exceeding the initial goal set out in mid-term management plan MOL next. The company also established offices and sales networks assigning personnel specializing in LNG transport in Muscat (Oman), London, and Houston.
- Contract to jointly own two LNG carriers with the government of the Sultanate of Oman and others. (January, July)
- Participated in Algeria LNG project. (May)
- Long-term charter contract for SNOHVIT Project of Norway. (September)
- Time charter contract for Ras Laffan Liquefied Natural Gas Co., Ltd. II (October)
- Five 6,000-TEU Containerships Launched
(February – June)
Starting with the MOL Precision, MOL launched five 6,000-TEU P
series containerships on the Asia-Europe loop. This move gave MOL
the fastest, most advanced containership fleet.
- MOL Established Subsidiaries in India
and Chile, which started operations in April and July,
respectively.
- MOL Started New Containership Service
between Europe and West Africa (June)
MOL launched regular bi-weekly service linking Europe and West
Africa. This allows the company to offer the services connecting
Asia/northern West Africa, and Europe/ South Africa.
- MOL Established Internal Audit Office
and Strengthened Corporate Governance (October)
MOL proceeded to strengthen the corporate governance since the
company established compliance regulations in November 2001. The
company also established the Internal Audit Office to create a
more efficient auditing structure and further strengthen corporate
governance.
- MOL Enhances Crew Training Facilities
MOL opened the MOL Training Center (Philippines) in February and
the MOL Training Center (Montenegro) in September. Along with the
MOL Training Center (Japan) in Chiba and the MOL Training Center
(India), MOL provides a global crew training system that
contributes to safe vessel operation in three locations around the
world.
- Reorganization: MOL Introduced Group
System (October)
MOL abolished the conventional team and office under division
organization and established a flatter structure to streamline
decision-making and operational execution. In addition, this move
helps the company respond more flexibly to operational issues and
more effectively utilize human resources.
- MOL Chairman Masaharu Ikuta Appointed to
Lead Postal Service Corporation (August)
For further information, please contact:
 
Hidenori Onuki, Manager
Public Relations Office
Tel: 81-3-3581-7015
Fax: 81-3-3581-7705
E-mail: pblmo@mail.mol.co.jp