Japanese ocean carrier Mitsui O.S.K. Lines has purchased a 20.9 percent share in PKT Logistics Group, a provider of end-to-end logistics solutions, including freight forwarding, customs brokerage, contract logistics, haulage and distribution.
Japanese ocean carrier Mitsui O.S.K. Lines (MOL) has purchased a 20.9 percent share in Malaysia’s PKT Logistics Group Sdn. Bhd., the company said in a statement.
Established in 1974, PKT provides end-to-end logistics solutions, including freight forwarding, customs brokerage, contract logistics, haulage and distribution.
Financial terms of the deal were not disclosed.
“This acquisition provides MOL Group with an opportunity to significantly enhance its operational capabilities in Malaysia, by leveraging the synergies between MOL Logistics (Malaysia) Sdn. Bhd., MOL’s group companies and PKT, to pave the way for MOL Group’s broad expansion in the Asian region,” MOL said. “This acquisition signals MOL Group’s commitment to serve its customers’ needs for quality logistics solutions, in the Asian region.
“Since year 2000, the Malaysian economy has consistently seen annual growth rates of over 5 percent and it is expected to continue growing strongly, integrating itself further into the ASEAN Economic Community,” it added. “With its advantageous geographical location, excellent highway network, international seaports network and other well-established logistics infrastructure, Malaysia is poised to be the next regional logistics hub.”
Source: Mitsui O.S.K. Lines, Ltd.
The 20,170-TEU MOL Triumph, which MOL took delivery of this week to serve on THE Alliance’s Asia-Europe FE2 service.
MOL earlier this week took delivery of what is now the largest containership in the world by capacity.
The 20,170-TEU MOL Triumph wrested the biggest vessel crown from the MSC Oscar and its sister ships, each of which sports a total capacity of 19,224 TEUs.
MOL said it plans to deploy the vessel, the first of a series of six 20,000-TEU ships, on THE Alliance’s newly launched Asia-Europe FE2 service.
According to ocean carrier schedule and capacity database BlueWater Reporting, the FE2 operates with 12 vessels, two from MOL and 10 from alliance partner Hapag-Lloyd, with an average capacity of 17,994 TEUs. The full port rotation of the loop is Xingang, Dalian, Qingdao, Shanghai, Ningbo, Hong Kong, Yantian, Singapore, Tangier, Southampton, Hamburg, Rotterdam, Le Havre, Tangier, Dubai, Hong Kong, Qingdao and Xingang.