Two of Japan's major shipping industry companies have set up a new organization specifically to service the liquified cargo trade, notably within the biofuels sector. The move, announced by shipowner Mitsui O.S. K. Lines and  broker Tokyo Marine Co, will see teams drawn from both companies address new trends in the tanker business such as transport of ethanol and the increasing seaborne trade of chemical products and vegetable oil, while proactively exploring new businesses.

MOL formed the new Tanker Project Group in the Tanker Division, and Tokyo Marine created the Chartering & Project Center effective November 1. Some employees will hold concurrent positions in both new organizations. In the future, the organizations will cooperate to formulate fleet plans, respond to customers and manage vessel operations. This allows the MOL Group to reinforce its overall structure and provides more flexibility to meet diversifying customer needs.