MOL establishes subsidiary in Cambodia;

1/5/2007 11:31:59 AM

Mitsui OSK Lines opened a new subsidiary in Cambodia on January 1, 2007. MOL (Cambodia) will handle liner business and ocean consolidation business (OCB), and will assume the duties currently handled by Global SKL Shipping (GSKL) as MOL’s sole agent in Cambodia. After expanding various ocean shipping businesses with GSKL, MOL now deems it necessary to establish an agency with MOL Group capital in order to continue its expansion strategy in Cambodia, which is experiencing tremendous economic growth.     Mitsui OSK Lines (Cambodia) is a joint venture between the MOL Group (70%) and GSKL (30%). The new company aims to expand MOL’s global network and increase business together with GSKL and its group of companies who will provide logistics support.     Cost reduction measures will also be implemented, under control of MOL (Asia) in Hong Kong, which oversees MOL’s operations throughout Asia. Eyefortransport

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