Wednesday, April 20, 2011

Japanese Fight Back Against Disaster With Aid And A New Bulk Freight Venture

MOL Group Provide Help and Investment
Shipping News Feature

JAPAN – WORLDWIDE – Container Line and multimodal freight operator Mitsui OSK Lines (MOL) tell us how their ocean cruise ship, the Fuji Maru, has successfully returned to Tokyo after a weeks tour around ports in the Iwate Prefecture following the provision of free day-use services such as meals, baths, and rest to almost four and a half thousand people suffering as a result of the Tohoku (Pacific Ocean Earthquake). Now the Japanese shipping giant has revealed the details of their latest joint venture in the bulk shipping market.

On the 1st May Straits Tankers Pte Ltd. a MOL and Hafnia Management strategic joint venture set up in Singapore, will be ready to market 25 *LR1 type vessels entered into the “Straits Tankers LR1 Pool”. The Pool consist of LR1 product tankers from MOL, Swedish owners Marinvest and Gotlandsbolaget and Danish ship owner Nordic Tankers. United Arab Chemical Carriers (UACC) in Dubai has also decided to participate. The Straits Tankers offices in Singapore and Copenhagen, Denmark will service customers’ needs utilising the expanded fleet.

Hafnia Management A/S is a company started less than a year ago by ship owners and run by senior staff with substantial knowledge within the product tanker market and shipping pools. Hafnia focuses on commercial management of clean petroleum product pools and commenting on the news and current difficult trading conditions in the bulk sectors, Lars Mossberg, Chairman of Hafnia Management said:

”With the continued economic challenges in the tanker markets, consolidation of fleets is the natural way forward in order to jointly meet customer increased demands as to scope of services whilst optimizing the operation through economy of scale. It’s a win-win for all parties”

Tsuneo Watanabe, Director and Managing Executive Officer of MOL said:

“Our country is facing a challenge from the natural disaster from a month ago, but together with Hafnia, we can support recovery of the Great East Japan Earthquake, which will substantially lead to the growth of the world economy and our customers.”

* LR1 or Large Range normally refers to a tanker with coated tanks and larger than 50,000 dwt, with a breadth below 32.31 m and a length below 289.5 m – usually below 80,000 dwt.

 Photo:- Quake survivors needing assistance boarding the Fuji Maru at Kamaishi port