Mitsui OSK Lines Announces Major Restructure
Japan's Mitsui O.S.K. Lines (MOL) has announced a major restructuring that will become effective from April 1.
The changes involve the establishment of a Technology Innovation Unit and the creation of a new position: Chief Technical Officer. Last year, MOL announced that has signed an agreement with Mitsui Engineering & Shipbuilding to develop next-generation vessel monitoring and support systems using artificial intelligence technologies. The project is part of the company's on-going drive to take advantage of digital technologies. The system will be based on real time short-cycle and big data input which will be integrated and analyzed with the aim of preventing accidents and equipment failure.
MOL is also developing wearable information technology devices for crewmembers. It is envisaged that crew training will be conducted using head-mount displays, virtual reality and augmented reality technologies. These remote support systems will also be used during onboard maintenance and repairs.
The company is also creating the role of Chief Financial Officer to supervise planning of strategies and measures to promote optimal group-wide funding. Additionally, new Chief Executive positions will be established for North, Middle Americas & the Caribbean and South America to replace a single Chief Country Representative, North America.
The head office, currently made up of divisions and offices, will be unified into divisions, to allow divisions to more effectively allocate their resources.
MOL will divide the Tanker Division into Tanker Division (A) and Tanker Division (B) to create a more customer-focused approach. The Tanker Division (A) will take responsibility mainly for the crude oil tanker business and the Tanker Division (B) will focus on petroleum product tanker and methanol tanker businesses.
MOL will establish an independent business division aimed at more effective investment of management resources and promotion of more efficient marketing for the ferry business.
MOL will transfer operations of the Environment and Emission Free Business, which was positioned as a business for future development from the Corporate Planning Division to the New Business Creation and Group Business Division, with the aim of accelerating the business.
MOL will establish the Liner Business Management Division to fulfill its management role as one of the major investors in Ocean Network Express (ONE), into which the Liner Division is being integrated.
MOL will establish the Corporate Marketing Division to succeed operations of the One MOL Business Strategy Execution Office, with the aim of more effectively promoting group-wide business activities across regions and organizations.