MOL forms holding company for tugboat services

Shares in three companies were transferred to the new firm.

Mitsui O.S.K. Lines, Ltd. (MOL) has established MOL Bay Links Co., Ltd., a holding company aimed at strengthening the foundation of the group's tugboat services.

In a statement, MOL said effective 1 July, the company transferred all shares it held in Nihon Tug-Boat Co., Ltd., Green Shipping, Ltd., and Green Kaiji Kaisha, Ltd. to MOL Bay Links, thereby establishing it as a holding company.

“Establishment of MOL Bay Links will optimise the organisation and enhance group-wide competitiveness whilst maintaining the regional initiatives of Nihon Tug-Boat, Green Shipping, Green Kaiji Kaisha, and their subsidiaries,” MOL said.