Japanese shipping company Mitsui OSK Lines (MOL) is eyeing more business beyond its existing container shipping business in Myanmar, the company announced.
Apart from future expansion on the container business in Myanmar, MOL may expand its other businesses to cover bulkers, tankers and car carriers, the company said in a release.
“As Myanmar continues to open up and expand, we see the country standing in front of a new world – a world of growing economic opportunities of trade, infrastructure development and regional strategic hub position for maritime transportation,” said MOL president Koichi Muto.
“MOL is pleased to work together with the country to seize the growth opportunities by further expanding our containership businesses in time,” he said.
MOL’s presence in Myanmar dates back to 1898 when the first cargo ship Hikosan Maru called at the Port of Yangon. Since March 2012, a direct service linking Singapore and Yangon has been established. In October 2012, MOL established MOL Myanmar Ltd, a wholly-owned subsidiary of MOL.
“I am grateful to the Myanmar government, customers and partners for their continued support in MOL’s business development. Over the years, MOL has grown in tandem with Myanmar and we have long become one of the country’s closest partners,” Koichi said at a reception MOL hosted for government leaders, customers, partners and MOL employees in Yangon.
The shipping giant said that as a multi-modal transport group MOL will continue to “actively seize opportunities that contribute to global economic growth by constantly monitoring our performance and meeting customer needs.”