Mitsui OSK establish Pakistan shipping business

Mitsui OSK establish Pakistan shipping business
Takes over from Asiatic Shipping Agencies

Mitsui O.S.K. Lines, Ltd. (MOL; President: Akimitsu Ashida) today announced the opening of a new subsidiary in Pakistan effective April 16. Mitsui O.S.K. Lines Pakistan (Pvt) Ltd. will handle all MOL’s liner and non-liner business and ocean consolidation business (OCB). The new company will assume the duties currently handled by Asiatic Shipping Agencies (Pvt.) as MOL’s sole agent in Pakistan.

MOL had been expanding various ocean shipping businesses with Asiatic Shipping Agencies (Pvt.) as its sole agent in Pakistan, but now deems it necessary to establish an agency with its own capital to continue its expansion strategy in Pakistan, which is experiencing tremendous economic growth.

The new company aims to expand MOL’s global network and increase business by improving customer service and by implementing cost reduction, under control of MOL’s subsidiary MOL (Asia) Ltd. in Hong Kong, which oversees operations throughout Asia.

PROFILE

Company name: Mitsui O.S.K. Lines (Pvt.)Ltd.

Location: Karachi, Pakistan

Start of Operation: April 16, 2007 with the M/V MOL Ability V.005 arriving in Karachi on April 15

Paid-in-capital: PKR 12,000,000 (about US$200,000)

Business: Sole agency for MOL liner and non liner business and ocean consolidation business (OCB)*

Coverage area: All of Pakistan

Management: Chairman Michael Goh

Managing Director Sabir Banatwala

Director Siraj Banatwala

Number of employees: 41