MOL announces Ikeda's successor

MOL said given the speed of change going on within today's shipping industry it was vital for MOL to accelerate its own business structure transformation.

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Japan’s largest shipowner, Mitsui OSK Lines (MOL), is shuffling top management with Junichiro Ikeda moving upstairs to chairman and Takeshi Hashimoto (pictured), 63, set to take his corner office as president and CEO at the start of the next financial year on April 1. Hashimoto has been with MOL since 1982 while Ikeda has been CEO of the company since 2015.

MOL said given the speed of change going on within today’s shipping industry it was vital for MOL to accelerate its own business structure transformation.

The Japanese shipping giant also announced today changes in its dry bulk division.

MOL has decided to lump all its bulk carriers, wood chip carriers and multipurpose vessels ranging in size from 10,000 to 100,000 dwt together into subsidiary Mitsui OSK Kinkai.

“The Dry Bulk transportation service that each business units have been providing to meet the requirements of their various customers will be improved to a higher level by maximizing the synergies from this reorganization,” MOL said in a release.

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