Mitsui O.S.K. Lines, Ltd. (MOL) announced that its Product Transport Business has delivered exceptional results for fiscal year 2024, reporting an ordinary profit exceeding 300 billion JPY. This strong performance was driven by favorable market conditions in the containership and car carrier segments, enabling the company to accelerate its long-term strategy of portfolio transformation and stable growth.
MOL is strategically expanding its focus to establish a more stable, resilient revenue base less dependent on traditional freight market volatility. This includes significant investments beyond core ocean transport into high-growth areas such as:
Chemical Logistics
In a landmark move to cement its position as a global leader in the non-shipping asset sector, MOL completed the 100% acquisition of chemical logistics specialists FCC and LBC in June 2025. This acquisition immediately expands MOL’s chemical tanker fleet to 114 vessels, establishing a robust foundation for a new global powerhouse in chemical logistics.
Director General Norio Abe of the Headquarters of Product Transport Business stated, “We are exceptionally proud of the financial performance achieved in fiscal 2024. More importantly, this success has powered a pivotal transformation. With the integration of FCC and LBC, we aim to become the global leader in the chemical logistics business and will continue building new businesses in collaboration with a wide range of partners.”
MOL is also adapting to shifting global trade patterns and is committed to environmental stewardship:
Regional Growth: The company is strengthening co-creation initiatives with regional partners, targeting emerging demand growth, particularly in India and Africa.
Decarbonization: Based on its policy to develop environmentally friendly vessels, MOL has introduced 14 LNG-fueled car carriers to its fleet, contributing to a lower-carbon supply chain.
Looking forward, MOL is entering Phase 2 of its management plan, “BLUE ACTION 2035.” The company will continue to execute a balanced growth strategy focused on:
Enhancing resilience in businesses susceptible to market fluctuations.
Growing its portfolio of stable revenue streams and non-shipping assets, securing sustainable long-term value for stakeholders.
