Tokyo-based Mitsui O.S.K. Lines has announced that it will merge three group subsidiaries responsible for maritime technology and engineering into one new company that will contribute to a carbon-neutral maritime industry.
MOL Marine & Engineering (MOLMEC) will be the surviving company after merging with MOL Ocean Expert (MOLOX), and MOL ShipTech Inc. (MOLST) in April 2025. The official name of the new company will be announced in March 2025.
The new company will offer services including maritime and new shipbuilding consulting, maritime human resources training, and crew support to operational support and maintenance. The company will focus on the use of digital technology to support MOL’s growing businesses, including the wind power generation business, a key area targeted for investment and expansion.
Since this is a merger between wholly owned subsidiaries of the MOL Group, no new shares will be issued and no funds will be exchanged as a result of the merger.
MOL, which announced in September it would contribute to Katapult Ocean’s Deep Blue Fund, also is working toward emissions reduction in the shipping industry.
