Commitment To Excellence Award 2023 recipient announced

In 2022, MOL Chemical Tankers celebrated its 50th anniversary. Its predecessor, Tokyo Marine Co, Ltd was founded in 1972 with the aim of being a specialised shipping company in parcel tankers. Unix Line Pte Ltd was founded in 1990 by Tokyo Marine in Singapore to be its shipmanagement company and six years later Tokyo Marine became part of the Mitsui OSK Lines (MOL) Group in 1996.

In 2001, Tokyo Marine opened an office in London and a shipmanagement company in South Korea, TM Ship Management Co Ltd; in December 2006, an office was opened in Dubai, which currently trades under the name MOL Chemical Tankers Middle East DMCC.

The creation of hubs around the world continued, with the establishment of a base in Houston in April 2012, MOL Chemical Tankers America, Inc, and this was followed by the headquarters being moved to Singapore.

Five years later, the name of the company was changed from Tokyo Marine to MOL Chemical Tankers (MOLCT). European operations were expanded in 2019 with the acquisition of Nordic Tankers A/S (presently known as MOL Chemical Tankers Europe A/S). The sale of Nordic Tankers by its investment fund owners Triton to MOLCT brought to an end a line of ownership that can be traced back to Wonsild & Son, established 1962.

MOLCT is currently striving into new fields such as tanker container and tank terminal business, in addition to its main chemical tanker business.

Decarbonisation is an important part of the MOLCT story. In 2022, MOLCT signed an agreement with Trafigura’s fuel supply joint-venture company TFG Marine for a joint study on supplying biodiesel fuel for MOLCT-operated vessels in bunkering ports around the world.

As a part of the joint study, the companies have conducted a sea trial using TFG Marine-supplied biodiesel on MOLCT-operated chemical tanker Niseko Galaxy.

MOLCT, which has faced challenges and reforms in the 50 years since its founding, has grown into one of the world’s top three parcel chemical tanker operators, and today, about 370 employees of 23 nationalities support daily operations in 11 offices around the world.

Such a level of sustained growth with a clear focus on serving the demands of clients over 50 years is to be congratulated and MOL Chemical Tankers is a worthy recipient of The International Chemical & Product Tanker Commitment To Excellence Award.