Tokyo, March 04, 2024 – Mitsui O.S.K. Lines, Ltd. (MOL) proudly announces the successful completion of the acquisition of Fairfield Chemical Carriers Pte. Ltd. (FCC), marking a significant milestone in the maritime industry. MOL’s wholly-owned subsidiary, MOL Chemical Tankers Pte. Ltd. (MOLCT), finalized the acquisition on March 1, 2024, following a share transfer agreement signed in September 2023.
This strategic move solidifies MOLCT’s position as a global leader in the chemical tanker business, aligning with its growth-focused group management plan, “BLUE ACTION 2035.” The acquisition, valued at approximately US$400 million, has received regulatory approval under competition law.
Uniting Strengths for Global Excellence
MOLCT’s fleet of 81 multi-segregated chemical tankers with stainless steel tanks now seamlessly integrates with the 36 vessels from FCC, creating one of the world’s largest and most specialized fleets. The merger enhances MOLCT’s capabilities in providing superior services across the entire spectrum of the chemical tanker industry.
MOLCT CEO, Akira Sasa, emphasized the significance of this integration, stating, “With the inclusion of Fairfield Chemical Carriers, the MOLCT Group expands its business horizon, enabling a broader range of services for our valued customers. Together, MOLCT and FCC are committed to delivering exceptional service in every aspect of our operations.”
Shared Vision for Growth
Fairfield-Maxwell CEO, Anthony Dowd, expressed optimism regarding the share transfer, anticipating mutual growth for both MOLCT and FCC. He conveyed well-wishes for the newly formed MOLCT Group’s success.
