MOL to create greentech hub from merger

Mitsui O.S.K. Lines, Ltd. (MOL) has announced the merger of its three maritime technology and engineering subsidiaries: MOL Marine & Engineering Co., Ltd.; MOL Ocean Expert Co., Ltd.; and MOL Ship-Tech Inc.

MOL to create greentech hub from merger

The idea is for an absorption merger with MOLMEC as the surviving firm. The official name of the new firm will be revealed in March 2025.

The new organisation, as a professional technical group, will reportedly provide comprehensive services spanning from marine and new shipbuilding consultation, maritime human resources training, crew assistance, and operational support and maintenance.

In all of these areas, the firm will prioritise the use of digital technology to support MOL’s developing operations, including wind power production, which is a significant area for investment and development.

The new company’s diverse service offerings will help to realise a carbon-neutral marine sector.

MOL also revealed that the merger is scheduled to be effective from 1 April 2025 and that no new shares will be issued and no funds will be exchanged as this is a merger between completely owned entities of the MOL Group.

In September, MOL invested in HIF Global LLC (HIF), a company that develops and operates e-fuel projects globally, via its subsidiary MOL Clean Energy, US LLC.