Takeshi Hashimoto making the speech on MOL Foundation Day
As Mitsui O.S.K. Lines, Ltd. marks its 141st anniversary, President & CEO Takeshi Hashimoto addressed staff on Foundation Day, reflecting on two pivotal years under the “BLUE ACTION 2035” roadmap and signaling a critical transition to Phase 2.
“Fiscal 2025 is the final year of Phase 1,” Hashimoto stated, emphasizing the need for precise execution and adaptation amid growing global instability. While the MOL Group has outperformed financial expectations over the past two years, thanks in part to favorable markets and a weakened yen, the company anticipates a more difficult business environment ahead.
Growth Backed by Strong Markets and Strategic Investments
During FY2024, MOL’s market-dependent sectors—containers, car carriers, and chemical tankers—performed well, boosted by macroeconomic conditions. Investments surged in LNG carriers for Qatar Energy, FSRUs in Singapore, and ethane tankers for Siam Cement Group. New ventures into cruise services and chemical tank terminals also underscored MOL’s bid to stabilize cash flow beyond the cyclical shipping market. The acquisition of LBC Tank Terminals, the company’s largest M&A deal to date, signals a deeper commitment to chemical logistics and clean energy storage infrastructure.
The company’s environmental direction remains intact. The LNG-powered Sunflower Kamuy began operations in January, and MOL is now moving forward with joint ownership of nine ammonia dual-fuel vessels, including the world’s first Capesize bulk carriers. “The momentum toward a decarbonized society may have slowed, but the need for transition is still pressing,” Hashimoto said.
Organizational Overhaul Reflects Global Strategy
In a structural shift, executive titles have been adjusted to reflect global responsibility, rather than a Tokyo-centric approach. The company also established a “Singapore Sub-Headquarters,” merging six subsidiaries for centralized efficiency while preserving operational autonomy. Singapore’s positioning as a maritime hub and strategic BCP fallback adds weight to the move.
The alignment of business strategy with HR policy emerged as a focal point. MOL plans to reallocate talent by visualizing its group-wide human capital portfolio, with the goal of avoiding inefficiencies and bottlenecks. Human resources, Hashimoto admitted, could become a limiting factor if not managed with foresight.
On safety, MOL’s newly outlined Safety Vision will underpin efforts to restructure safety operations across both maritime and non-shipping domains—especially important as the company deepens investments in logistics infrastructure and other social infrastructure sectors.
Finally, MOL is set to feature its Wind Hunter model—designed to produce and transport hydrogen using wind energy—at Expo 2025 Osaka. The company will also open a new interactive museum, “MOL Museum Funeshiru,” showcasing its maritime heritage and innovations. Both initiatives stem from internal employee programs, reflecting an effort to foster internal pride and external recognition.
