MOL To Merge Its 3 Subsidiaries To Establish A Maritime Decarbonization Hub

Mitsui O.S.K. Lines, Ltd. (MOL) has announced plans to merge three of its group companies to form a new technical hub to advance decarbonization efforts in the maritime sector.

The merger, which is scheduled to take effect on April 1, 2025, will combine MOL Marine & Engineering Co., Ltd. (MOLMEC), MOL Ocean Expert Co., Ltd. (MOLOX), and MOL Ship Tech Inc. (MOLST), with MOLMEC being the surviving business.

This merger is viewed as a strategic step by MOL to increase its commitment to sustainability, aligning with global initiatives to cut carbon emissions in the maritime industry.

The new company will rely largely on digital technology to deliver seamless services in maritime consultancy, shipbuilding, crew support, operational maintenance, and human resource training, with a special focus on MOL’s expanding wind power production business.

MOL has stated that the acquisition will help streamline operations and promote greater innovation in maritime technology, advancing the company’s goal of being carbon neutral.

Since the merger comprises wholly-owned subsidiaries, no new shares will be issued, and no financial exchange will take place.

The newly formed company will begin operations on April 1, 2025, at MOL’s headquarters in Minato-ku, Tokyo. The company’s name and leadership will be publicly announced in March 2025.

MOL Marine & Engineering, founded in 1988, currently specializes in maritime consultancy services, cable-laying ship operations, and offshore wind power projects, among other technical training services.

After the merger, the company intends to increase its contributions to decarbonization through advanced maritime engineering solutions.

Reference: MOL

MOL To Merge Its 3 Subsidiaries To Establish A Maritime Decarbonization Hub appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News