MOL announces huge iron ore expansion

摘要

Mitsui Osk Lines Ltd (MOL) has announced plans to construct 53 new iron ore carriers to meet rising demand for iron ore transport as the world economy continues to grow. The move is part of the growth strategies in the company's mid-term management plan MOL ADVANCE, focusing management resources on growing fields in ocean shipping. According to MOL, worldwide demand for iron and steel is expected to show stable growth, with countries such as China continuing to produce more crude steel. Increased steel production will naturally boost demand for efficient, reliable transport of raw materials. MOL, as the world's largest operator of iron ore carriers, has developed a large-scale fleet with a wide variety of vessels to meet various customer needs. The company has already concluded mid- and long-term contracts for 40% of the 53 new building vessels, and eventually 60% of the new ships will sail under mid- or long-term arrangements.