MOL strengthens offshore business with new division

MOL said its new division will “broadly and proactively” develop its offshore business The division, it said, is part of a technology-driven field, showing "day-by-day innovations that will carry the business forward".

Establishing the Offshore Technical Division, MOL said, will enable it to gain a competitive advantage by further accumulating and developing human resources and know-how.

MOL said the division will be "unbound by conventional ideas of ocean transport and offer customers various innovative products based on technical specialities".

In February 2020, MOL signed an agreement to jointly develop technologies and solutions to digitalise a floating storage and regasification unit in partnership with Daewoo Shipbuilding & Marine Engineering. The company has also invested in areas including operating petroleum FPSOs to subsea support vessel operations to powerships, and renewable energy for offshore wind power generation and SOVs.

MOL has also jointly established a global human resources consulting company, MM Empower Corporation, with Magsaysay People Resources Corporation of the Magsaysay Group, a long-term MOL partner in seafarer talent recruitment, education and training.