Japan’s Mitsui OSK, Magsaysay Maritime to expand joint venture to ship management

The Philippines is finally getting a step up the ladder in the maritime industry with the move of Mitsui O.S.K. Lines (MOL), the largest shipping company in the world with headquarters based in Tokyo, and Magsaysay Maritime Corp. (MagMOL) to expand it’s joint venture  to ship management operations.

MagMOL, which has been in existence since 1993, was previously engaged only in crew manning, focusing on recruiting, training, and assigning Filipino crew members to MOL-operated vessels.

However, with the expansion to ship management operations, according to Doris Magsaysay-Ho of Magsaysay Shipping, the Philippines will finally have the chance to move up the value chain from mere crew manning to the more complex ship management.

Ship management, Magsaysay-Ho elaborated, would involve the more complex and technical side of ship management as well as insurance, supply and numerous ancillary services.

Thus, with the establishment of a MagMOL Ship Management Company in the Philippines, Magsaysay-Ho said, various other foreign companies involved in related services may also soon establish a presence in the country to better coordinate their operations.

The announcement of MagMOL’s ship management operation yesterday was graced by the presence of visiting MOL president Akimitsu Ashida. 

According to Ashida, the expanded  venture effectively increases the already strong presence of MOL in the country and strengthens its partnership with Magsaysay Maritime Corp., the country’s leader in shipping operations.

MOL’s business activities in the Philippines started in the early 1980s. 

In 1993, it established the Magsaysay Institute of Shipping (MIS) MOL Training Center as a joint venture with Magsaysay Maritime Corp.

As one of the largest state-of-the-art maritime training centers in the country, the school provides pre-shipboard and upgrading training courses.

The institute was judged, for three consecutive years, as one of the three best training institutes in Asia-Pacific by Lloyd’s List Maritime Asia Awards.  

In 1997, the partnerships continued to grow in the establishment of two key ventures — MOL Philippines, Inc. and MOL Logistics Philippines.

MOL Philippines Inc., handles the business of container boxes, providing clients with fast and direct container liner service originating from Manila and Cebu to major ports in Asia, North America and Europe.

MOL Logistics Philippines handles various logistical requirements of people and companies that need to move their objects conveniently and quickly. Its services include storage, packaging container loading, processing, assembly and Customs clearance.

The establishment of MagMOL began by providing Filipino crew to 57 MOL vessels. Today, MagMOL provides manpower to 150 owned vessels and will see the increase of deployment of seafarers to 250 vessels in 2009.

The Philippines is already a major source of junior and senior officers, crew, and land based staff for MOL through their partnership with Magsaysay Institute of Shipping (MIS)/MOL Training Center Philippines.

About P150 million was invested last year to expand and upgrade the training facility located in Dasmariñas, Cavite.