Merchant Mitsui CEO: Disruptive Innovation Will Reshape The Shipping Industry

- Jan 09, 2018-

In a New Year message, Junichiro Ikeda, Japan's shipping company Mitsui's president and chief executive, said the shipping industry has not been hampered by the new trends brought about by disruptive innovations, including those that have changed the way in which goods are distributed in society.


Ichiro Ikeda said disruptive innovation will remodel the shipping industry at any time, but it is too late to see the change clearly. Therefore, the leader of change should look forward more forward, in order to stay ahead, MOL needs to promote new innovations.


He stressed that the wave of change is ruthless. Increased social environmental awareness forced the commercial vessel Mitsui to achieve further transformation. Top priority The company must implement to promote innovation. Specifically, the future core business of the MOL Mitsui Group will be to strive for environmental protection, pollution-free enterprise development, which is also an important pillar of the company's management plan.


Ichiro Ikeda said the commercial vessel Mitsui is entering the second year of the 2017 rolling plan, and by 2018 the company will discuss specific business policies with various divisions based on the situation of each department.


Earlier, in 2017, the MOL Group promoted the investment plan for the next 10 years from 2017 onwards. The company invested in LNG and offshore operations, entered into the business of self-elevating platform vessels, participated in the floating LNG terminal project in India, expanded Yamal LNG project and entered the business of sawdust carrier business.


Ichiro Ikeda pointed out that the merchant Mitsui will focus on upgrading the organization to expand the business scale, including the creation of new business, and the growth of the Group's business unit, port projects and logistics business unit.


Moreover, the merchant Mitsui will continue to cooperate with the other two Japanese shipping companies to consolidate the shipping business. Ocean Network Express (ONE) will be officially put into operation in April 2018, which will be an important turning point for the commercial vessel Mitsui, marking a new beginning.

In 2017, due to the situation in North Korea, the shipping market has not yet fully recovered and the operating environment is increasingly volatile, making the commercial vessel Mitsui will remain vigilant. The company expects its financial results to be in line with the initial projections by the end of FY17. With the business structure reform, the commercial vessel Mitsui will strive to achieve steady growth of the business and keep the sales front position