Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC).
“MOL and NCC concluded the agreement with the objective of developing a comprehensive two-way strategic partnership including both partners’ group companies, and steadily enhancing their businesses,” said a statement from the company.
For MOL, it will be an opportunity to expand business in liquid chemical product transport business, which requires considerable expertise and has the potential to generate stable profits.
Both companies are confident that the agreement will facilitate those business opportunities. The companies will also continue discussions on other issues that will mutually benefit them as they build a partnership that will maximize corporate value for both partners.
NCC plans to accept one full-time director and one part-time director from MOL on its board of directors upon the resolution of the general meeting of shareholders.
MOL plans to acquire 15% of NCC’s issued shares in total through acquisition of its issued shares and subscription to new shares issued through a third-party allocation by NCC.
NCC, as an international logistics corporation that specializes in the transport of liquid cargo and various types of gases including chlorofluorocarbon (CFC), provides a unique service – door-to-door international multimodal transport of liquid cargo, CFC and other various gases – creating the optimal combination of transport modes and routes from shipper to destination.
Importing and managing the logistics of your precious freight is no easy task. Compliance to U.S. Customs & Border Patrol is essential to your cargo clearing customs. Use a freight forwarder to lower your chances of having shipment delays and to oversee all of your international freight logistics. Contact a customs broker to file your ISF and issue any pre-alerts to avoid penalties and delays, and arrange your ocean freight and imports customs clearance.