Mitsui O.S.K. Lines, (MOL; President: Koichi Muto) today announced that the company has established a joint venture with two local companies in Vietnam and started a tugboat business.
The joint company will allocate high-powered, high-performance tugboats in Vietnam’s Cai Mep/Thi Vai area*1, where deepwater container terminals are now under developing. It will offer safe, high-quality support services for vessels calling at ports in the region, helping meet the needs of Vietnam’s shipping industry and international shipping lines.
1. Joint company outline
(1) Company name – Tan Cang-Cai Mep Towage Services Co., Ltd. (TCTS)
(2) Established – August 2010
(3) Headquarters – Ba Ria-Vung Tau Province, Vietnam
(4) Business – Harbor towage and escorting services
(5) Investors – Mitsui O.S.K. Lines, Ltd.Saigon Newport Corporation (Vietnam), Haivan Shipping-Services Corporation (Vietnam)
(6) Paid-in capital – US$4.5 million
(7) Initially allocated tugboats – Two 4,000 HP (one exported from Japan)
2. Background and objectives
Deepwater container terminals have been constructed to serve Vietnam’s Cai Mep/Thi Vai areas as a result of tremendous economic growth in Southern Vietnam. The number of large-scale vessels calling at the ports will continue to increase, so stable tugboat service is indispensable. The new company has benefited from high-quality tugboat operation know-how accumulated by the MOL Group, and will meet those needs and contribute to stable operation in these areas.
More information could be found here!