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Business Structural Reforms (BSR) executed (January - March); Single-year management plan "RISE 2013" started (April) • Transferred sales and vessel operations of the dry bulker fleet (over 130 vessels) to Singapore to advance business expansion. ¥101.5 billion was allocated as cost of BSR during the fourth quarter of FY2012. • Set forth the target of absolutely achieving profitability in FY2013 in the single-year management plan "RISE 2013", and carried forward business model reforms (accumulating stable profits, scaling down free fleet). Proactive business expansion LNG carrier • Participated in a new LNG transport project for SINOPEC in China , and ordered 6 newbuilding vessels (April) • Concluded a long-term transport contract for an LNG carrier with Osaka Gas and Kyushu Electric Power, and ordered a newbuilding vessel (May) • Concluded a long-term transport contract for an LNG carrier with Petronet LNG in India (December) Offshore business • Participated in ultra-deepwater FPSO chartering project offshore Brazil (March, December) • Participated in deepwater FPSO chartering project for T.E.N. oil field offshore Ghana (September) • Participated in Uruguay LNG FSRU project, building the world's largest FSRU (October) Dry bulker • MOL Cape concluded a long-term transport contract with leading international mining group, Rio Tinto (February) Tanker • Signed deal to build and charter a methanol carrier for WFS (December) Containership • G6 Alliance started Trans-Pacific (Asia/North America East Coast) trade (May) and committed to expand the collaboration to Asia/North America West Coast and Atlantic trades (December) • Established a subsidiary in Myanmar (February) Incident involving the containership MOL Comfort, which suffered a crack amidships and sank (June) Continual initiatives on seafarer training • Seafarer education and training programs in the Philippines marked their 20th anniversary. The second batch of students finished the cadet program (March) • Training ship Spirit of MOL retired-Mission accomplished, fully transferred to new CADET training program (March) New initiatives on environmental protection • Won approval of installation for packaged container ballast water treatment system in cargo hold (January) • Completed installation of ballast water treatment system on VLCC (April) • Installed NOx-reducing Selective Catalytic Reduction (SCR) system on an MOL-operated vessel and began demonstration test (July) Social contribution activities • Supported disaster relief efforts for typhoon afflicted people in the Philippines (November-December) Group-wide business expansion • Daibiru Honkan Building (Nakanoshima, Kinta-ku, Osaka) completed (February) Mitsui O.S.K. Lines, Ltd. press release |
