Mitsui O.S.K. Lines (MOL), one of the largest shipping and multimodal transport companies, has decided to open a new direct service between China and Nhava Sheva in India.
The direct service, basically a container service with three dedicated 2,000 TEU (twenty-foot equivalent units) vessels, is set to become operational from May 19 and it forms part of MOL's plans to double its market share in India from 4 per cent to 8 per cent in a year. The service would provide direct link between the two countries as also ease access to the U.S. and European markets since it was planned via Singapore. MOL, with operating fleet of 900 vessels that is expected to grow by another 50 this year, is ‘excited' about opportunities in India which was witnessing a higher growth levels compared to China where the transition to high value goods was resulting in migration of low technology and labour-intensive enterprises, MOL Vice-Chairman Masakazu Yakushiji said. Mr. Yakushiji was here on Tuesday to inaugurate the company's new and biggest information processing centre with a seating capacity of close to 450 and could be scaled up to 650. “India plays a key role in our information processing business and the Hyderabad centre will be the largest centre for meeting the requirements,” he said. He said MOL had no plans to invest in shipyards in the country, but the company would focus on iron ore mining in Orissa and other places as it involved export opportunities. In addition, MOL was targeting automobile export as several Japanese companies like Nissan, Toyota and others had set up their plants here. “Being a Japanese company, we have the natural advantage in this direction,” he said.
He said Japan was on the recovery path since the devastating earthquake and tsunami and it would not take long before the country returns to its position.
