Japanese shipping conglomerate Mitsui O.S.K. Lines (MOL) announced an organizational restructuring effective April 1, 2017, including creating a new business unit to take charge of promoting all of its transport-related businesses.
The new unit is to be born a year after MOL formed the Dry Bulk Business Unit and the Energy Transport Business Unit on April 1, 2016.
The company in a statement said the new Product Transport Business Unit will be tasked to “create the cross-sectional system ‘One MOL’ to promote businesses in the product transport field and further meet customer needs.”
In line with this, the firm is to set up the One MOL Business Strategy Execution Office, which will engage in “division/area cross-sectional business promotion, based on global business strategies and strategic initiatives, that uses Business Intelligence (BI) in an integrated fashion.”
In addition, MOL will abolish the Research Office, transferring its functions to the One MOL Business Strategy Execution Office and other business divisions.
Other reorganizational changes to be effected include putting up the Bunker Business Office as an independent office engaged in purchasing and preparing bunker oil and lubricant, and establishing mid- and long-term policies to procure fuels while adhering to SOx regulations.
The bunker business unit will also “accelerate initiatives concerning vessels with engines that use alternative fuel such as LNG,” and will participate in LNG and other fuel supply businesses in an integrated fashion.
At the same time, the Bunkering Group of the Tanker Division will be abolished, even as MOL sets out to develop the New Business Creation Group and rename the Group Business Division.
The New Business Creation Group will gather, research, and select information on new businesses, and study, plan, promote, and implement policies in an integrated fashion. It will also direct intensive efforts on new businesses that are not extensions of conventional businesses.
Meanwhile the Group Business Division will be renamed the New Business Creation and Group Business Division.
Finally, the company will transfer the group responsible for LNG carrier projects in Russia and China to the LNG Carrier Division, and restructure the Offshore & LNG Project Division to be an organization that engages in the expansion of offshore business. Accordingly, the Offshore & LNG Project Division will be renamed the Offshore Project Division.
Photo: Lombroso
