MOL To Restructure Organization Starting April, 2020

Mitsui O.S.K. Lines, Ltd. (MOL) announced that it will restructure the organization effective April 1, 2020, as follows:

1. Establishment of Chief Environment and Sustainability Officer

MOL will rename the position of Executive Officer Responsible for Sustainability Promotion as the Chief Environment and Sustainability Officer.

This position will promote environmental strategies aggressively, supervise planning and implementation of strategies with the aim of achieving Sustainable Development Goals (SDGs) through businesses.

MOL_Magnificence
Representation Image – Credits: wikimedia.org

Moreover, MOL will transfer responsibility for the promotion of its environmental strategies from the New & Clean Energy Business Division to the Corporate Planning Division to strengthen its implementation.

2. Establishment of Chief Digital Officer

MOL will establish the position of Chief Digital Officer to supervise the planning and implementation of MOL Group digital marketing strategies and provide necessary advice to executive officers responsible for business divisions.

3. Establishment of Offshore Gas Project Division

MOL will establish the Offshore Gas Project Division as an organization focused on businesses related to the LNG field in energy value chains (FSRU projects, LNG bunker vessel project, etc.) to accelerate the enhancement of the offshore business, in which the company is concentrating the investment of management resources, as set out in Rolling Plan 2019. The Offshore Project Division shall have specific responsibilities in crude oil fields such as FPSO projects, shuttle tanker projects, and the subsea support vessel business.

4. Establishment of Steaming Coal & Renewable Energy Project Division

MOL will rename the Steaming Coal & Energy Project Division as the Steaming Coal & Renewable Energy Project Division by integrating functions of the offshore wind power project into the Steaming Coal & Energy Project Division to strengthen commitment for Environmental and Emission Free Businesses

5. Establishment of Ferry and Associated Business Division

MOL will establish Ferry and Associated Business Division as an organization for reinforcing group business management with abolishing the New & Clean Energy Business Division.

6. Integration of Tanker Division (A) and Tanker Division (B)

MOL will integrate the Tanker Division (A) and Tanker Division (B) as the Tanker Division to increase the synergy of both divisions’ functions, expertise and achieve new growth.

The structure of business divisions effective April 1, 2020, is as follows. The underlined divisions are changed.

  • Dry Bulk Business Unit Dry Bulk Business
    • Planning & Co-ordination Division Iron Ore and Coal Carrier Division
    • Bulk Carrier Division
    • Wood Chip Carrier Division
    • Marine Technical Management Division
  • Energy Transport Business Unit
    • Energy Business Strategy Division
    • Bunker Business Division
    • Tanker Division
    • Steaming Coal & Renewable Energy Project Division
    • Marine Technical Management Division
    • LNG Carrier Division
    • Offshore Gas Project Division
    • Offshore Project Division
    • LNG Marine Technical & Ship Management Strategy Division
  • Product Transport Business Unit
    • Car Carrier Division
    • Port Projects & Logistics Business Division
    • Ferry and Associated Business Division
    • Liner Business Management Division
    • Marine Technical Management Division

Reference: mol.co.jp

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