MOL and NCC establish tank container JV company

Mitsui O.S.K. Lines (MOL), Nippon Concept Corporation (NCC) and MOL Logistics have decided to jointly establish MOL Logistics (Tank Containers) (MLGTC) in June.

MOL and NCC will strengthen their business alliance through this latest joint venture (JV), which is expected to start in Asia, while serving as the headquarters of NCC’s overseas agency business.

NCC is an international logistics company using tank containers and concluded a capital and business alliance agreement with MOL in 2018, when MOL acquired 15% of NCC’s issued shares, and moved ahead with cooperative measures such as sharing and mutual use of each company’s overseas offices and business networks.

MOL Logistics, which serves as a core of the MOL Group logistics business, already handles NCC’s overseas agency business in Mexico, Myanmar, and Vietnam.

The establishment of MLGTC will extend areas of the business alliance and further accelerate collaboration in business and cargo transport operations using tank containers, according to a statement.

Specifically, MLG will extensively intensify its agency business on NCC’s behalf, starting in Thailand and other major Asian countries showing tremendous growth in demand for chemical products, such as China and India.

In addition, by leveraging MOL and MLG’s networking capabilities, MLGTC will maximise the synergetic effects of NCC’s know-how and track record in door-to-door international multimodal transport services for liquid cargoes and various types of gas.

In the future, the three companies will expand the business alliance, and work together as one to offer safe, high-quality transport of chemical products on a global scale, according to an announcement.

Source : Bunkerspot.com