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Mitsui OSK Lines is a $17 billion shipping giant based in Tokyo, Japan. The company is part of the MOL Group, a vast conglomerate that controls nearly 400 companies, owns a fleet of over 910 ships, and employees close to 10,000 people worldwide. Mitsui is a publicly traded company and is listed on the Tokyo, Nagoya, Fukuoka and Osaka stock exchanges zorb ball australia.
Rich Maritime History
MOL and its parent company have a rich history in the Japanese maritime industry. Mitsui traces its origins back to 1878 with the launch of a steel-hulled vessel that carried coal between Kuchinotsu and Shanghai. Over the years, the company has been a pioneer on several fronts. In 1961, Mitsui OSK Lines became the first shipping company in the world to launch a ship with a fully automated engine room. Four years later, it followed up that feat with the launch of Japan’s first purpose-built car carrier. In 1989, the company again established its credentials as a Japanese maritime pioneer with the launch of the country’s first full-fledged luxury cruise ship.
Wide Range of Vessels
Mitsui currently operates a huge range of bulk carriers, tankers, LNG vessels, car carriers and container ships. The company’s bulk carriers are used mainly to ferry products, such as grain, coal and iron ore, along various north-south and east-west trade routes. Mitsui claims to operate the largest number of bulk carriers in the industry. MOL’s crude oil fleet comprises of a blend of extremely large vessels and a collection of smaller vessels that are used to transport crude oil to ports in countries around the world.
Car Shipping Business
Since launching Japan’s first car carrier in 1965, Mitsui has built a substantial presence in the global automobile shipping industry. The company owns several massive pure car carriers and hybrid vessels that are designed to carry thousands of vehicles in one trip. In fact, MOL’s largest car carriers feature up to 13 cargo decks, and can transport 6,400 passenger cars per trip. In recent years, Mitsui has established partnerships with numerous companies in South Asia and the Far East to address the growing demand for car transportation services in rapidly emerging economies, such as India and China.
Terminal Operations and Logistics Management
In addition to shipping, Mitsui also owns and operates nine terminal facilities, including four in Japan and three in the U.S. The company is in the process of building a new facility in Rotterdam to handle growing demand for its services in Europe. In addition, Mitsui also has an extensive logistics operation which delivers a range of services ranging, from warehousing and freight forwarding, to turnkey supply chain management services. Like many other major shipping companies, Mitsui too has been hit hard by the global recession of the past few years, according to an MOL review by Moody’s. However, its car carrying business and its container shipping businesses have continued to be strong points for the company in recent years, Moody’s Mitsui OSK Lines review noted.