MOL Establishes Ship Management Company in Philippines

Magsaysay Mitsui O.S.K. Marine, Inc.(*), has reorganized its ship management division and established a new ship management company called MAGMOL Ship Management Inc

Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that its joint venture company in the Philippines, Magsaysay Mitsui O.S.K. Marine, Inc.(*), has reorganized its ship management division and established a new ship management company called MAGMOL Ship Management Inc.

On December 7, an opening ceremony was held in Manila, where the new company is based, and MOL President Ashida attended the ceremony.

Through Magsaysay Mitsui O.S.K. Marine and MAGMOL Ship Management, MOL strives to further enhance know-how in marine technology and ensure safe operation, in line with the MOL Group’s corporate principles. The Philippines is the main seafarer supply nation for the world’s merchant fleet.

(*) Magsaysay Mitsui O.S.K. Marine, Inc. is a Philippine seafarer manning company established in March 1997 as a joint venture between MOL and Manila-based Magsaysay Maritime Corporation.

Name: MAGMOL Ship Management, Inc.

Location: Manila (Philippines)

Business: Ship management

Start of operation: December 1, 2009

NOTES TO EDITORS:

MOL is one of the world’s largest multi-modal transport companies, operating 861 vessels and employing a workforce in excess of 9,200 worldwide. MOL operates one of the largest and most diverse networks of liner and logistics services around the globe, including weekly Transpacific, Transatlantic, Americas and Asia-Europe services. Please visit the company’s website at www.MOLpower.com.

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Kenta Matsuzaka, General Manager

Marine Safety Division, Seafarers Group

Mitsui O.S.K. Lines, Ltd.

Tel: 81-3-3587-7059 Fax: 81-3-3587-7741

E-mail: [email protected]

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