MOL launches subsidiary in Cambodia

Tokyo: Mitsui O.S.K. Lines, Ltd. (MOL) plans to start the new year with a new subsidiary in Cambodia. MOL (Cambodia), effective as of January 1, 2007, will assume the liner and ocean consolidation business duties currently handled by MOL's sole agent in the country: Global SKL Shipping (GSKL). The new company, which will be under control by MOL's Asian subsidiary in Hong Kong, is a joint venture between the MOL group (70%) and GSKL (30%).  [30/12/06]