In his new year message Kochi Muto, president of MOL said: “With no immediate prospects for any appreciable increase in market prices in the marine transport industry, MOL must be mindful of the added value it can generate and the services it can sell. We must focus on sharpening our skills in those areas.”
The LNG carrier and offshore sectors were seen as growing sectors that could provide stable, long term, profits and the company will invest in management resources to expand these businesses.
“In response to diversifying needs for marine transport and transport coordination, MOL needs to further refine the maritime technical know-how and ship operation techniques it has amassed to date. MOL must become the customer’s preferred shipping company by virtue of its technical capabilities,” he said.
Looking at other sectors Muto said the company needs to move away from a reliance on market conditions by adding value and concluding more long term contracts with customers.
MOL also needs to seek new business opportunities through understanding the needs of the market just as the development of shale gas. “Examples include the emergence of a host of new transport opportunities following the shale revolution and developments surrounding environmental regulations related to ships, not to mention operations peripheral to marine transport, such as terminal operations,” Muto said.