Mitsui OSK Lines Plans Shipbuilding and Logistics Expansion in India
Japan's Mitsui OSK Lines, world’s second-largest ship owner by fleet size, eyes shipbuilding in India and investments in terminals & logistics
The Economic TimesImage: The Economic Times
Mitsui OSK Lines (MOL), the second-largest ship owner globally, is exploring shipbuilding opportunities in India and aims to enhance its logistics services, particularly for automobile exports. CEO Jotaro Tamura emphasizes the importance of understanding local capabilities and aligning with Indian shipbuilders to boost cooperation.
- 01MOL is interested in developing shipbuilding capabilities in India.
- 02The company holds about 50% market share in India's car export transport market.
- 03MOL plans to establish roll-on, roll-off (RORO) terminals to support automobile exports.
- 04The Indian government has extended a subsidy scheme to promote Indian-flagged vessels.
- 05MOL aims to expand its logistics services alongside shipping operations.
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Mitsui OSK Lines (MOL), headquartered in Japan, is keen to explore shipbuilding in India and enhance its logistics services, particularly for automobile exports. CEO Jotaro Tamura stated that while shipbuilding is currently dominated by countries like China and Korea, developing capabilities in India is a positive step. MOL currently operates 13 vessels under the Indian flag and commands approximately 50% of the car export transport market in India. The company is considering establishing roll-on, roll-off (RORO) terminals to support the growing automobile manufacturing sector in India. Tamura highlighted the need for Indian shipbuilders to gradually develop their capabilities, starting with simpler vessels before moving to more complex designs. The Indian government's recent extension of a subsidy scheme to promote Indian-flagged vessels is seen as beneficial for MOL's plans. As car manufacturing in India expands for both domestic and export markets, MOL aims to position itself as a comprehensive logistics solutions provider.
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MOL's plans to establish shipbuilding and logistics operations in India could lead to increased job opportunities in the maritime and logistics sectors, supporting the growing automobile export industry.
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