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MOL expands chemical tanker business
Photo: Chemical Carrier 'Hodaka Galaxy'
Mitsui O.S.K. Lines (MOL) has announced that its subsidiary, MOL Chemical Tankers, is set to acquire Fairfield Chemical Carriers (FCC) in a deal valued at around USD 400 million. This acquisition is in line with MOL's strategy to expand its presence in the chemical tanker industry, as outlined in its "Blue Action 2035" management plan.
The deal will bring FCC's 36 vessels into MOL's fleet, enhancing its capabilities in this sector and allowing for further growth in promising markets where FCC has a strong foothold.
Additionally, MOL aims to leverage FCC's brand and expertise to advance its safety, digital transformation, human capital, and environmental initiatives. The acquisition still requires regulatory approval. (pb)