MITSUI O.S.K. LINES AND IVER SHIPS JOIN FORCES IN THE ASIA PACIFIC REGION
MITSUI O.S.K. LINES AND IVER SHIPS JOIN FORCES IN THE ASIA PACIFIC REGION · Agreement to pool resources in the Asian product tanker market · Implementation on a phased basis over the next six months · Marketing offices will be maintained in Singapore and Tokyo Mitsui O.S.K. Lines and Iver Ships are pleased to announce the agreement to pool their resources in the Clean Petroleum Products (CPP) tanker market in the Asia Pacific Region. The objective is to become the leading provider of services to the CPP tanker market in this region. The agreement will be implemented on a phased basis over the next six months and eventually it will include a fleet of 12 existing vessels in the 45,000 dwt size. Further vessels may be added to the fleet over time. Mitsui O.S.K. Lines (MOL) is one of the world's largest shipping companies with a total fleet of more than 600 vessels (35 million dwt) represented in most major market segments such as liner, dry bulk, gas, tanker, car carrier, ferry and cruise ship. The MOL Group had last year a turnover of USD 8.3 billion (SEK 80 billion) and 7,500 employees. In the tanker market segment MOL operates a large fleet of VLCC (Very Large Crude Carriers) and product tankers. Chemical tanker operations are conducted by the subsidiary Tokyo Marine, which operates a fleet of 45 vessels. Iver Ships operates today a fleet of 24 product and chemical vessels from its offices in Sandefjord and Singapore with an additional four newbuildings to be delivered during 2001. "We have over the last couple of years intensified our marketing in the Asia Pacific region through our Singapore office and we are now established in that market", says Hans Jörgen Firing, CEO of Iver Ships. "This agreement with Mitsui O.S.K. Lines will make it possible for each company to further increase their service to customers in this area." Iver Ships is a company owned by Broström AB, Sweden, and Vroon B.V., The Netherlands, with 40% each and both companies provide Iver Ships with its core tonnage in the global deep sea product and chemical tanker markets. "This is a further example of the ongoing consolidation in the product and chemical tanker market. We are pleased to be part of that process also in the Asia Pacific market", says Broström CEO Lennart Simonsson. "Our efforts in the consolidation process has so far been focusing on the European market." Göteborg 26 March 2001 BROSTRÖM AB (publ) For further information Hans Jörgen Firing, CEO Iver Ships, www.iverships.no. Tel + 47 33 42 52 00 Lennart Simonsson, CEO Broström, www.brostrom.se. Tel + 46 31 61 61 00 Kazunori Nakai, Deputy General Manager, Tanker Division B Mitsui O.S.K. Lines, www.mol.co.jp. Tel + 81 3 3587 7668 Broström is one of the leading logistics providers for the oil and chemical industry, focusing on industrial tanker shipping and marine services. The group has 1,100 employees and net sales of SEK 2.4 billion. General information about Broström can be found on www.brostrom.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00150/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00150/wkr0002.pdf