MOL Wins AiP for Designs of Cable Jointing/Burial Vessels

Mitsui O.S.K. Lines, Ltd. (MOL) has signed a long-term loan agreement to finance its acquisition of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. (LBC) completed in June 2025, securing ¥135 billion from the Japan Bank for International Cooperation (JBIC) and ¥115 billion via a syndicated loan arranged by Sumitomo Mitsui Banking Corporation (SMBC), according to the company’s statement.

The syndicated loan group 

The JBIC facility was contracted on December 22, 2025, and the syndicated loan on December 23, 2025. ¥135 billion and ¥115 billion are roughly $857 million and $732 million respectively) at current market levels.

The syndicated loan group includes SMBC, Sumitomo Mitsui Trust Bank, MUFG Bank, SMBC Trust Bank, The San-in Godo Bank, The Kumamoto Bank, The Yamagata Bank, Aomori Michinoku Bank, The Akita Bank, The Bank of Iwate, The Bank of Saga, The Towa Bank, The Hyakugo Bank, The Musashino Bank and The Bank of Nagasaki among others.

 MOL’s strategic expansion

The financing will support MOL’s strategic expansion of its chemical logistics business by integrating tank storage into its services, aligned with its BLUE ACTION 2035 management plan. The company said tank terminals are viewed as a business with low market volatility and will help meet diverse customer needs.

Approval in principle (AiP) for the basic design of specialized vessels 

It is noteworthy that TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto announced that it has obtained approval in principle (AiP)  from Nippon Kaiji Kyokai (ClassNK) (President & CEO: Hayato Suga, Headquarters: Chiyoda-ku, Tokyo) for the basic design of specialized vessels to joint and bury subsea power cables

One of MOL's roles in this project is to develop technologies for cable jointing and burial vessels, and acquisition of AiP from ClassNK represents a major milestone.

Leadership changes

On the other hand Mitsui O.S.K. Lines (MOL) announced that our Board of Directors approved leadership changes—including Mr. Takeshi Hashimoto as a Chairman, Mr. Jotaro Tamura as a President, and Mr. Hisashi Umemura as a Vice President, as well as Mr. Kazuya Hamazaki as a Representative Director and Vice President —effective April 1, 2026.

Amid significant changes in the business environment surrounding the shipping industry, a smooth transition to the next-generation management structure is essential for the sustainable growth of our group.

MOL Group Management Plan “BLUE ACTION 2035”

The Company has determined that this timing—coinciding with the shift from Phase 1 to Phase 2 of the MOL Group Management Plan “BLUE ACTION 2035”—is the right moment to implement a leadership change and transition to a collaborative management framework led by the Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer.

As MOL enters the next phase of BLUE ACTION 2035, CEO leadership is passing from Mr. Takeshi Hashimoto to Mr. Jotaro Tamura, marking a new chapter for the company and ensuring strong leadership for the future.

Mitsui O.S.K. Lines, Ltd. is a Japanese corporate entity engaged in international shipping and logistics services. Its operations span maritime transportation of diverse cargoes, including bulk commodities, energy products and specialized freight, and logistics solutions. 

Related : Mitsui O.S.K. Lines and Isometric enter strategic partnership

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