Mitsui OSKLines ( (JP:9104) ) has shared an update.
Mitsui O.S.K. Lines, Ltd. has announced the acquisition of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A., a major independent tank terminal operator. This acquisition is part of MOL’s strategy to expand its chemical logistics business and enhance its onshore storage capabilities. The move aligns with MOL’s corporate management plan ‘BLUE ACTION 2035’ to diversify its revenue streams and reduce reliance on market-driven shipping. The acquisition is expected to support MOL’s growth in the next-generation energy business and increase its presence in the global chemical logistics industry.
More about Mitsui OSKLines
Mitsui O.S.K. Lines, Ltd. (MOL) operates in the maritime shipping industry and is listed on the Tokyo Stock Exchange Prime Market. The company is involved in chemical logistics and has expanded its business scale in the chemical tanker sector, boasting one of the largest fleets globally. MOL aims to establish a ‘Total Chemical Logistics Service’ system and is focused on reducing its exposure to market-driven shipping businesses.
YTD Price Performance: 8.46%
Average Trading Volume: 4,524
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $13.69B
See more data about 9104 stock on TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com