The new joint venture company operating under the name "Ocean Network Express" from 1 April 2018, with the company headquarters in Japan (Tokyo), an business operation headquarters in Singapore and regional headquarters in United Kingdom (London), United States (Richmond, VA), Hong Kong, and Brazil (Sao Paulo). China Has World's Largest Navy With 355 Ships and Counting, Says MOL invested huge capital to consolidate these services and to establish a service network in the United States. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Founded as a key part of the Mitsui zaibatsu (family-owned conglomerate) during the early industrialization of Japan, the company is now independent of the zaibatsu, but remains part of the Mitsui keiretsu (group of aligned companies). Steps 2 and 3 can be combined. In the same year it decided to enlarge its container terminal facilities at Los Angeles, and also installed its own container terminals at Asian ports, including Kaohsiung. [citation needed], The company's profits peaked in 1941, when OSK was capitalized at 87 million and had 112 vessels aggregating 557,126GRT. General cargo ships are ranked as the most common type of ship in the global merchant fleet, accounting for about a third of the fleet: There were almost 17,000 such ships in the . Cargo movement of raw materials for steep production will start to recover in 2021, but recovery to 2019 level will likely take place from 2022 or later. Why and How Did the MOL Comfort Break in Half? Structural Flaw or In 1983 the import of liquefied natural gas (LNG) on Free on Board (FOB) conditions began as part of the diversification of Japan's energy resources, and MOL, NYK, Kawasaki Steamship, Chubu Electric Power Company, Incorporated and other Japanese electricity and gas companies jointly established two specialized companies, Badak LNG Transport Inc. and Arun, to transport LNG from Indonesia. When its application was rejected, MS placed outsidernon-conference-memberships on this route in 1953. During World War II, and after the war, all MS ships were under the control of the government. "Number of ONE (Ocean Network Express) ships from February 2021 to May 2023." Estimates are made when official data is not . MOL to cut 40 ships from fleet to reduce market exposure In addition to streamlining its vessel assets, MOL is looking to dispose of non-business assets such as listed shares and real estate. MOL's logistics network has expanded to 239 locations in 123 cities in 26 countries around . One of the latest is Masaharu Ikuta, who has been appointed to head the newly privatized Japan Post. In 1911 OSK started a Kobe to Bombay service. The North American mole species tends to get as big as 7 inches (17.6 cm) long, 1.25 inches (3.3 cm) tall and weighs around 4 ounces (115 grams), according to Havahart.com, a site focussing on . The world's leading container ship operators as of May 31, 2023, based on number of owned and chartered ships [Graph]. PDF Mercy Ships Fact Sheet - Global Mercy Carnival Cruise Line currently has 26 cruise ships, with at least four more being added to the fleet in the next 5 years. Informa Markets, a trading division of Informa PLC. MOL to cut 40 ships from fleet to reduce market exposure, Maran Tankers delivers first LNG cargo to Nansha Guangzhou terminal, Panama Canal Authority announces new booking condition, Boxships move cargo overland as Panama Canal faces water shortage crisis, CPKC offering Panama Canal rail alternative via Lazaro Cardenas into the US, MOL seeks funding for demonstration voyages on autonomous vessels, Allowed HTML tags:

. As a marine fuel, methanol also reduces CO2 emissions during combustion by up to 15 percent. Mitsui Bussan became an industrial carrier and the shipping section was established in 1898. In 1930 OSK made a huge investment in five new high-speed motor ships in order to start a New York express service. Australia Sends Biggest Warship To Military Drills With Philippines And US, Tanker With Sanctioned Iranian Oil Begins Offloading Near Texas Despite Threats From Tehran, Ukraine Announces New Humanitarian Corridor In Black Sea To Ship Grain, North Korea Launches Cruise Missiles While South Korea And US Begin Military Drills, Iran Claims To Threaten US Navy Helicopters Covering Warships In The Strait Of Hormuz. Plant exports began to decline in the late 1980s and these special ships were mostly sold or changed their flags. In, Alphaliner. As a Premium user you get access to background information and details about the release of this statistic. All 26 crew reported rescued by three other container ships that diverted to her, Hapag-Lloyd's Yantian Express, Hanjin Beijing of now defunct Hanjin Shipping and ZIM's ZIM India. Values for the last week of each month. In 1917 it constructed a shipyard and set up the shipbuilding department and in 1920 it opened a semi-liner service from Dalian via Kobe to Seattle, whereby a liner service operated on outbound voyages but on the return voyage, owing to insufficient cargo at Seattle, ships had to stop and collect cargo at other ports. Since 1990, MOL has invested in the regional feeder line Euro Marine Logistics. Show publisher information The Destroyer ship type is an advanced, multi-role surface vessel outfitted with an array of sensory equipment and weaponry to counter threats from the air, on the surface and under the surface. Lines Name Newbuild LNG Bunker Vessel: Brassavola, MOL Joins Blue Visby Consortium - Utilizing Digital Technology to Reduce CO, MOL Signs 'Making Net-Zero Ammonia Possible' Proposal from Public-Private Partnership for Decarbonization in which a World Economic Forum Participates, Three Companies Conclude Strategic Partnership Aimed at Boosting Ship Fuel Efficiency/Reducing GHG Emissions -Collaboration among MOL, MOL Techno-Trade and Akishima Laboratories-, 17 MOL Group-managed Vessels Earn Commendations from Japan Coast Guard - Honored for Continuously Providing Information on Marine Conditions -, MOL and Ferry Sunflower Launch Trial Use of 'Berthing Aid System' for Ships with Eye toward Commercialization, MOL and ENN Sign Long-term Charter Deal for Three Newbuilding LNG Carriers, MOL President & CEO Hashimoto Addresses Company's Entrance Ceremony - Pioneering Growth Trajectory through Diversity -, MOL and Mitsubishi Shipbuilding Acquire AiP for LCO, AR Navigation System Earns Innovation Endorsement Certificate from ClassNK, MOL Holds Naming/Launching Ceremonies for LNG-fueled Ferry, MOL Joins Human Capital Management Consortium, MOL Concludes MoU to Revitalize Regional Industries by Utilizing Overseas Personnel in Oarai-machi, Ibaraki Prefecture, MOL Signed for Six Large LNG-fueled Vessels - Steadily Progressing towards '90 LNG-fueled Vessels by 2030' -, MOL Acquires AiP for Design of Large-scale Liquefied CO, MOL Marks Consecutive Listings on FTSE4 Good Index Series and FTSE Blossom Japan Index, Four Companies Launch Study on Application of Aerospace Engineering Technology to Wind-Powered Vessels - New Phase in Vessel Development Using Wind Power -, MOL Starts Joint Study on Ship Fuel with National Institute for Environmental Studies, MOL and Metro Weather Launch Development of World's First "Onboard Wind Condition Measurement Device" - Successful Onboard Demonstration Experiment Using Doppler Lidar -, Verification Research of Feasibility and Dissemination of Ocean Thermal Energy Conversion in Mauritius Selected for NEDO Project - Accelerating Commercialization of Ocean Renewable Energy, Following Project Now in Operation in Okinawa -, MOL and Karasawa Agricultural Machinery's Project for Commercialization of Small-scale Private Rice Mills Selected for Japan's Ministry of Agriculture, Forestry and Fisheries Subsidy Project, Test Installation of New Microplastic Collection Device That Can Collect Microplastics Continuously While a Vessel is Underway -Protecting the Marine Environment in a Broad Range of Sea Areas by Collecting Microplastics-, 2 MOL-operated Vessels Earn 2021 'Best Quality Ship Awards' - Japan Federation of Pilots' Association Honors Safe Operation Measures -, MOL Cooperates in Ocean Transport of Children's Shoes to Zambia, INPEX, IHI, MOL Demonstrate Clean Ammonia Supply Chain Linking UAE and Japan, TotalEnergies Marine Fuels and MOL Group Complete First Biofuel Bunker Operation of a Vehicle Carrier in Singapore, Mitsui O.S.K. The ships will be owned by MISC, a Malaysian shipping group, and operated by Eaglestar, a MISC . By the end of 1957 the company had almost recovered the sailing rights it had been given by the FEFC before the war, and was making 18 voyages per month on 13 overseas liner routes. In 1878 it bought a steamship, and in 1888 it bought the mines. Personnel expenses increased after the first oil crisis, and the yen was revalued. Akagisan Maru, the diesel ship, proved superior, and Mitsui concluded a manufacturing and marketing license agreement with Burmeister and Wain Co. (B & W), who had manufactured the engine, in 1926. MOL was interested in the transportation of massive plants and took delivery of five specialized ships, including the Atlas Maru, equipped with a 600-ton capacity derrick, one of the largest in the world. Lines, Ltd. (TSE:9104) (MOL) have concluded Key Commercial Terms for the purchase and sale of an equity position in, and the establishment of a strategic partnership involving Methanexs Waterfront Shipping (WFS) subsidiary. Annual car sales worldwide 2010-2022, with a forecast for 2023, Battery electric vehicles in use worldwide 2016-2022, Annual gas prices in the United States 1990-2022, Automotive industry worldwide - statistics & facts, Motorcycle industry in the United States - statistics & facts, Research expert covering transportation and electronics, Profit from additional features with an Employee Account. Then you can access your favorite statistics via the star in the header. Based on the idea that we need defensive measures first of all, we will immediately reduce our market exposure and review investment plans, MOL stated. [3] As a Premium user you get access to the detailed source references and background information about this statistic. The chief representative of these ship owners was Hirose Saihei, senior manager of the Sumitomo zaibatsu, or conglomerate, and a prominent figure in Osaka financial circles. Navy Fleet Fleet Strength by Country (2023) - Global Firepower How to Convert Moles to Molecules | Sciencing "The world's leading container ship operators as of May 31, 2023, based on number of owned and chartered ships." Both OSK and MS had ore carriers, and after the merger MOL held the largest share of the Japanese ore market. Today, shipping and logistics play a part in everybody's lives - it is said, that most people own something that has passed through the port of Shanghai. Moles: Habitat, habits and conservation | Live Science The company was recapitalized at 20 billion in 1968, and at 30 billion in 1972. It is estimated that an overwhelming majority of goods, around 80 percent, are . A paid subscription is required for full access. Mitsui O.S.K. The competition in sea transportation increased and MOL began a direct container service between the Far East and the west coast of North America in 1982. In October, SeaRiver Maritime, a wholly owned subsidiary of ExxonMobil, signed agreements with MISC Berhad to transport ExxonMobil's LNG volumes on two new ships that will be built by Samsung Heavy Industries with expected delivery in early 2023. Is Mol government owned? As a countermeasure against rising oil costs MOL built energy-efficient ships, cooperating with Mitsui Engineering & Shipbuilding. You can unsubscribe at anytime. Once more, MOL worked hard to curtail expenses and establish greater competitiveness on these routes. The company then owned 9 ships aggregating 36,752DWT, and on the eve of World War I the fleet totalled 15 ships with 74,635DWT, increasing to 30 ships totalling 127,141DWT in 1919. An American-owned large oil tanker that was strongly suspected of transporting sanctioned crude oil from Iran offloaded the cargo close to Texas. Lines, Ltd. (MOL), formed by the merger of OSK and MS, began container services on the California route, joining a space-charter consortium of four Japanese operators. Daibiru to Develop ESG-Friendly Offices in the Suburbs of Atlanta, U.S.A. MOL Issues Integrated 'MOL REPORT 2022' - Transforming into a Social Infrastructure Group Centered on Marine Transport -, MOL Signs Service Agreement with NPO WELgee for Recruiting and Staffing Services, MOL Teams up with JERA to Study Transport of Ammonia Fuel, MOL Delivers Keynote Speech and Joins Panel Discussion at Ammonia Energy Conference 2022 - Discussing specific actions to build a clean ammonia supply chain toward decarbonization -, MOL to Make Sea Trials of LNG Carrier Powered by Biofuel, MOL and QatarEnergy Sign Long-term Charter Deal for Three Newbuilding LNG Carriers, MOL Logistics Becomes Wholly Owned Subsidiary of MOL, MOL and MOL Drybulk Complete Core Systems Modernization to Power Digital Transformation Initiatives, MOL Establishes Katafuri Ltd. and Launches Cloud-based Ship Quality Management App Service - Contributing to Digital Transformation of Shipboard Operations and Seafarer Workstyle Reforms -, Mitsui O.S.K. Main measures include installation of onboard scrubbers, use of complied fuel, and transition to LNG as fuel. Australias greatest warship heads toward the Philippines on Monday where recent tensions with Beijing have reportedly escalated. MOL Group contact info: Phone number: +36 12090000 Website: www.molgroup.info What does MOL Group do? Currently, you are using a shared account. Step 1: Figure out the units hidden inside "M." Remember M means molar which is mol/L. It is one of the largest shipping companies in the world. Meanwhile, the US fleet sits under 300 ships, and the Pentagon's goal is to have 350 manned ships, still well behind China, by 2045, according to the US Navy's Navigation Plan 2022 released . 3 1. Our free, fast, and fun newsletter on the global maritime industry, delivered everyday. However, MS's performance was disappointing from 1950 until the OSK merger in 1964, when it was capitalized at 5.5 billion and had debts of 26.7 billion. Press Release 2022 | Mitsui O.S.K. Lines - Commonly known as MOL, the company is one of the largest shipping companies in the world and operates a fleet of more . You need at least a Starter Account to use this feature. History At the beginning of the 1920s, A.P. Methanol produced from renewable sources can reduce CO2 emissions by up to 95 percent compared to conventional marine fuels, providing a pathway to meet the International Maritime Organizations (IMO) decarbonization goals without further investment or compatibility issues with the current dual-fuel engine technology. For the purposes of the GFP ranking, landlocked nations are penalized for the lack of a Merchant Marine force as landlocked nations have shown to be capable of operating a Merchant Marine force through ports in allied countries (as exemplified by Austria). The company issued corporate debentures and warrant bonds on the Swiss capital market. Japan's exports of industrial plant grew at that time and modularization began. The New York route became the most competitive because of this trend toward intermodal forms of transport. As a Premium user you get access to the detailed source references and background information about this statistic. Keep in mind in the real naval world, to field one ship in constant permanent formation you need a minimum of 3 ships to a maximum of 5. Five years later, MS at last joined the conference. Ocean shipping is an integral part of the supply chain for most industries, making it a backbone of global trade. NEWS RELEASE. Methanex Corporation (Methanex) and Mitsui O.S.K. In 1950, however, OSK returned to global service. The U.S. Navy has larger, more capable vessels than any other navy in the . Profit from the additional features of your individual account. Global LNG tanker fleet 2021 | Statista World's Largest Container Ships | Zeymarine [citation needed], During the Great Depression, OSK and NYK made a cooperative agreement in 1931 whereby OSK abolished its Puget Sound route, which had called at Tacoma and Seattle, and in turn acquired a monopoly on the South American east coast route. Mercy Ships follows the 2,000-year-old model of Jesus, bringing hope and healing to the world's forgotten poor. OSK constructed 38 ships under the program. Annual car sales worldwide 2010-2022, with a forecast for 2023, Battery electric vehicles in use worldwide 2016-2022, Annual gas prices in the United States 1990-2022, Automotive industry worldwide - statistics & facts, Motorcycle industry in the United States - statistics & facts, Research expert covering transportation and electronics, Profit from additional features with an Employee Account. GIIGNL. (May 5, 2022). You only have access to basic statistics. MSC had 643 own container vessels and 292. Lines and EnviroNor Sign Memorandum of Understanding to Collaborate on Floating Desalination Vessel - Aiming to provide new fast-track solutions to solve the world's water scarcity challenge -, Daibiru Acquire Partial Equity Interest (Trust Beneficiary Rights) in 'Otemachi First Square', MOL concludes charter agreement for LNG Carrier with an Energy Major, Installation of Automated Marine Debris Collection Device at Hiroshima Municipal Pier - Contributing to Marine Environmental Conservation/Growth of Local Community -, Business Alliance Agreement on Support for Foreign Human Resources Signed between MOL and NCB Research & Consulting, MOL Signs 'Women's Empowerment Principles (WEPs)', MOL CEO Joins Japanese Government-led 'Male Leaders Coalition for Empowerment of Women', 'One MOL Safety Campaign' for 2022 Being Held - Pursuing the World's Highest Level of Safety Culture -, MOL Concludes Charter Agreement for LNG Carrier with TotalEnergies, MOL Transports Fire Engines to Paraguay - Drawing upon its Global Network to Implement a Unique Social Contribution Program -, MOL Tabletop Drill Prepares for Serious Marine Accident - Scenario Has Fire in Engine Room on Wood Chip Carrier off Japanese Coast -, MOL Finances Second Ship through Transition Linked Loans - ESG Financing for Bulk Carrier, MOL Signs LNG Carrier Charter Contract for Sakhalin II Project, Pavilion Energy and Mitsui O.S.K. In 1970 MOL established Mitsui OSK Passenger Co., Ltd. (MOP), with the reorganization of JES. The third general manager, Teijiro Kawamura, expanded the business of the department during World War I; in 1914 it began a tramp service carrying the company's own cargo and that of other companies. The ship had been lengthen in 1984 and the failure was at the forward end of the new midbody. The first such ship, Asian Venture, was an FOC ship at 1,960 20 feet equivalent unit (TEU), indicating the number of containers loaded, and the main ships placed on this route became FOC ships after they were launched in 1984. Profit from the additional features of your individual account. In 1984 the Maritime Act of the United States was revised and the mandatory independent action clause was introduced. Different cargo ship types around the world (*even DWT assumed for each vessel) Deadweight tonnage (DWT) is the measure of how much weight a ship can carry, including cargo, fuel, water, ballast, provisions, passengers, and crew. June 12, 2023. How many ships are in MOL shipping? Methanex will retain the remaining 60 percent majority . MOL Enters Partnership With Methanex, Involving World's Largest statistic alerts) please log in with your personal account. [Online]. Step 2: Figure out how many mL are there in 1 L. There are 1,000 mL in 1 L. Step 3: Set up the conversion so that you end up with mmol as the only unit that has not canceled out! Several vessels sailing close by were diverted by the US Coast Guard to rescue her crew, however 4 fatalities and 1 missing person were reported. . Cargo movement of grain, however, is expected to be relatively steady based on demand for food. Demand for steel products in China, which accounts for about 50% of global demand and production, will remain strong, according to MOL, but steel products imports to ASEAN5 and Europe/US may decline significantly depending on the COVID-19 situation. Mitsui OSK Lines (MOL) plans to shrink its fleet size by a maximum of 40 ships as it looks to reduce market exposure as part of a crisis response amid the coronavirus (COVID-19) pandemic. Copyright 2023. Seatrade, a trading name of Informa Markets (UK) Limited. [9], On 25 July 2020, MOL-operated MV Wakashio ran aground and spilled oil at the South of Mauritius. The company was recapitalized at 1.8 million in 1893, rising to 2.5 million in 1894, to 5 million in 1896, when the government of Taiwan granted OSK subsidies for Osaka-Taiwan liner services, and to 10 million in 1898 when the company started to operate on the Yangtze River. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. Through this transaction, Methanex, WFS and MOL will establish a strategic partnership, which will enable Methanex and WFS to benefit from MOLs broad shipping experience to further strengthen its already excellent shipping operations and capabilities. [8], On Monday 31 October 2016, Mitsui OSK Lines, Kawasaki Kisen Kaisha, and Nippon Yusen Kabushiki Kaisha agreed to merge their container shipping business via establishing a completely new joint venture company. MOL (Mitsui O.S.K. 21 February 2019 Shipping has been part of trade for thousands of years. You need 2 enlisted crews ( a blue or gold crew in American naval parlance) per ship and one crew of officers permanently attached to each ship. MOP has three passenger ships. "Number of liquefied natural gas storage vessels worldwide from 2010 to 2021*." The U.S. Navy is the world's second-largest navy with more than 280 ships, both commissioned and non-commissioned ships. Current status and future prospects of LNG fuel for ships 11. In that occasion, despite all her cargo was a total loss, the ship was salvaged and still sails. Show sources information Merchant Marine Fleet Strength by Country (2023) - Global Firepower Use Ask Statista Research Service. RCL in fleet renewal plans, sells two older containerships, FMC looks to data for reduced supply chain disruption. A recent news article published in the Offshore Energy states that MOL . [2] Directly accessible data for 170 industries from 150+ countries Therefore, if a ship heads north in the Northern Hemisphere and sails until Polaris rises 1 degree, the ship's latitude increases by one degree and has traveled 60 miles to the north. From 1933 the Shipping Department became known as Mitsui Line. Web page addresses and e-mail addresses turn into links automatically. The other trend was toward specialization. [citation needed], OSK was founded in 1884, when 55 ship owners, each of whom had only a small number of vessels, combined their operations. Available: https://www.statista.com/statistics/197643/total-number-of-ships-of-worldwide-leading-container-ship-operators-in-2011/, The world's leading container ship operators as of May 31, 2023, based on number of owned and chartered ships, Immediate access to statistics, forecasts & reports, Capacity of container ships in seaborne trade 1980-2022, Containerized cargo flows 2022, by trade route, Global container trade by trade lane 2022, Global container port throughput 2012-2027, Major marine terminal operators worldwide based on throughput 2021, Market share of the largest container ship alliances 2012-2021, Container ship operator alliances' share of the global container fleet capacity 2022, Reasons for high freight rates and capacity constraints in shipping worldwide 2021, Expected time for freight rates to normalize, by type 2021, Operating profit of the global container shipping industry 2010-2022, EBIT margins of main container shipping companies Q1 2014-Q1 2023, Average schedule reliability of major container liners 2020-2023, Monthly schedule reliability of major container liners by carrier 2020-2023, Leading container ship operators - owned and chartered ships 2023, Leading container ship operators based on total TEUs 2023, Leading container ship operators - owned and chartered TEUs 2023, Number of orderbook ships of the leading container ship operators 2023, Container ship operators based on TEU capacity of ships in order book 2023, CMA CGM Group - number of ships 2021-2023, COSCO Container - number of ships 2021-2023, AP Mller - Mrsk's revenue A/S 2006-2022, Total assets of COSCO SHIPPING HOLDINGS 2011-2021, Leading container ship operators worldwide: number of own ships 2022, Average age of container-carrying ships in APAC 2018, by country, Market share of container-carrying ships in APAC 2018, by country, Number of container-carrying ships in APAC 2018, by country, Global container ship fleet: size by flag the ship is flying 2013, Worldwide leading container ship fleets - by country 2019, Leading container ship operators - chartered TEUs in 2022, Leading container ship operators - number of chartered ships 2022, Leading container ship operators based on TEU capacity of own ships 2022, Yang Ming Marine Transport Corp.'s number of ships 2022, Number of cargo-carrying vessels entering Polish ports 2011-2022, by ship's flag, Active seafarers at sea from the United Kingdom (UK) 2002-2018, by rank, Import value of ships and boats into Madagascar 2015-2019, Find your information in our database containing over 20,000 reports, Maersk generated around 81.5 billion U.S. dollars in revenue. We assume you are converting between millimolar and molar.You can view more details on each measurement unit: millimolar or molar The SI derived unit for amount-of-substance concentration is the mole/cubic meter. 10,978. Mitsui Bussan's Shipping Department built two sister ships in 1924. In the oil market, crude tanker demand rose sharply for offshore oil storage due to the rapid decline in petroleum demand and low oil prices, but the tanker charter market is expected to fall as offshore oil storage decreases from the second half of 2020. Show sources information MOL Ro-Ro Car Carrier division is named ACE (Auto Car Carrier Express), and majority of the Roll-on/roll-off vessels in the company fleet have the suffix "Ace" in their names. As soon as this statistic is updated, you will immediately be notified via e-mail. This route, however, became lossmaking after 1986, seriously affecting the company's performance; MOL did not pay dividends between 1987 and 1989. MOL Truth. Mol - Preguntas.co Triple E-class container ship - Wikipedia The answer is 1000. Get quick analyses with our professional research service. [citation needed]. If you are an admin, please authenticate by logging in again. Containerization spread to other routes, including the Australia route, with NYK and Yamashita-Shinnihon Steamship Co., in 1970; the North Pacific route, with five other Japanese companies, in 1971; and the Europe route, as part of the TRIO Group consisting of MOL, Nippon Yusen Kaisha, Overseas Container Line, Ben Line, and Hapag-Lloyd, in 1971. With a fleet of approximately 800 vessels, MOL is one of the worlds largest shipping companies. Four ships are to be constructed at Samsung Heavy Industries shipyards in Korea and a further two will be constructed by Imabari Shipbuilding in Japan. The Yachiyosan Maru, at 123,800DWT, built in 1970 under a cargo guarantee from Nippon Steel Corporation, was the largest ore carrier in Japan at that time. How Many Cruise Ships Does Carnival Cruise Line Have in Their Fleet? The latest move is a defensive measure as MOL is anticipating seaborne trade of automobiles to recover to 2019 levels from 2023 or later, and global container trade will hit bottom in July-September 2020 with total trade throughput this year decreasing by around 25% from 2019.

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