Mitsui OSK Lines, Ltd. (MOL) has decided to relocate its European liner headquarters from London to Rotterdam, Netherlands effective from 1st August 2002.
Since MOL opened its London office back in 1917, its European and West/South African liner related business has been managed from this office.
MOL has in the meantime undertaken a strategic review of its future role in Europe for the purpose of better responding to the needs of our clients and taking the development of the European Union, with its growing economic potential, into consideration. The study concluded that MOL's European headquarters should be nearer to these markets on mainland Europe for the following reasons:
MOL (Europe)'s headquarters should be based on the Continent closer to the origin and destination of the majority of our traffic. Currently nearly 50% of MOL Liner traffic to Europe is being routed through Benelux ports. The MOL group has a number of its logistics facilities, such as warehouses and distribution centres operated by MOL (Logistics), located in this region, and these will further enhance the overall service quality MOL will be able to provide.
Particularly with the inauguration of the Eurozone, our belief is that the proportion of traffic through the Benelux ports will increase, as will the demand for intermodal traffic. In addition, MOL foresee that the expansion of Europe will increasingly be Eastward with the proposed incorporation of the former East Bloc countries into the EC.
The costs of running the organisation in London are significantly higher compared with those in the near Continent. This reorganisation will help MOL in further strengthening its cost competitiveness, which enables the company to continue to offer its high-quality service to the Asia-Europe Trade and Trans-Atlantic Trade.
Existing headquarters senior management in London will relocate to Rotterdam and many staff are being offered the opportunity of relocation.
In the UK, the existing organisation for sales and marketing will be maintained and further strengthened to continuously offer a high quality service.
We are confident that this change will enable MOL to have better visibility over European markets and make speedy and appropriate decisions in response to the demands of our clients.
Address of new office:
Mitsui O.S.K.Lines (Europe) B.V.
Houtlaan 21, 3016 DA
Rotterdam, The Netherlands
Telephone : 31-(0)10-201-3200
Fax: 31-(0)10-201-3109
Website: http://www.molpower.com
Any questions regarding this announcement, please contact either:
S.Tashiro, General Manager, Liner Administration Dept, MOL Tokyo on 81 3 3587 7419
or
Chris Bourne, Managing Director, MOL (Europe), London on 44 20 7265 7503