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MOL Predicts A Return To Profitability In 2017 And Beyond

April 5, 2017 12:05 am Published by

Despite the horrendous losses suffered throughout the container shipping industry in 2016, MOL is predicting a "return to profitability" in 2017 and beyond. Two factors will contribute to this: the integration of Japan’s “Big 3” container lines and the company's approach to investing.

In the words of MOL President and CEO Junichiro Ikeda, the MOL, NYK and “K” Line alliance is a project of monumental significance.

The integration of the containership operations of Japan’s three largest shipping companies is a project of monumental significance … We definitely need all hands on deck to pursue this project, treating it as our very own core business. We must spare no effort to make the project profitable. – President and CEO, MOL

In order to accomplish its goals this year and in the future, MOL must make fundamental changes in its approach to strategic investment. Moving forward the company must work to reshape its business portfolio, which includes carefully selecting business domains and projects where MOL enjoys competitive advantages.

In late March 2017, MOL acquired a 20.9 percent stake in Malaysia’s PKT Logistics Group, and took delivery of the 20,170 TEU MOL Triumph, now the largest containership in the world by capacity.

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