MOL Reports USD 183 Mn Extraordinary Loss

Japanese shipping major Mitsui O.S.K. Lines has booked an extraordinary loss worth JPY 20.5 billion (USD 183 million) for the fourth quarter of FY2016, the company said in an announcement.

MOL, MSC Team Up on CX1 Service

Japanese shipping company Mitsui O.S.K. Lines (MOL) has formed a new partnership with Swiss-based shipping firm Mediterranean Shipping Company (MSC) in an effort to jointly operate MOL’s CX1 containership service on the Panama and Amazon route.

CESI Qingdao Ready for Sinopec LNG Project

The joint venture group behind the China FOB Transportation project took delivery of the liquefied natural gas (LNG) carrier CESI Qingdao from China’s Hudong-Zhonghua Shipbuilding on January 6.

FMC Clears THE Alliance

The US Federal Maritime Commission (FMC) has concluded its review of the proposed THE Alliance agreement, allowing it to become effective on December 19, 2016.

MOL Takes Delivery of World’s First VLEC

Japanese shipping company Mitsui O.S.K. Lines (MOL) has taken delivery of the Ethane Crystal, the world’s first very large ethane carrier (VLEC) which was built for Mumbai-based Reliance Industries Limited (Reliance), from South Korean shipbuilder Samsung

MOL to Set Up Two Asia-Australia Services under New VSA

Japanese shipping company Mitsui O.S.K. Lines (MOL) plans to launch two new services between Asia and Australia under a vessel sharing agreement (VSA) with three European carriers, starting from May 2017.

Moody’s: Japan Liner Merger Not Affecting MOL Rating

The recently announced merger of the container shipping businesses of Japan’s three major shipping companies has no immediate impact on Mitsui O.S.K. Lines’ Ba1 rating and negative outlook, according to ratings agency Moody’s Japan K.K.