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MOL to cut 40 vessels from fleet to reduce costs

The major Japanese line will reduce market exposure by shrinking its overall fleet by up to 40 vessels and halving investment expenditure for the financial years 2020 to 2022. The car carrier division will also be reorganised to better cope with the big changes in the market

MOL will expand its liquefied natural gas business to include floating storage and regasification units, LNG-to-power ships as well greater involvement in LNG bunkering, while also develop new energy-related businesses such as wind power generation and strengthening strategies for liquefied chemical logistics

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