MOL CEO: Customers the ‘wellspring of innovation’

In a New Years message to employees, Junichiro Ikeda, CEO of Japanese ocean carrier MOL, focused on the future of the Ocean Network Express (ONE), mega containerships and innovation in the shipping industry catching up to the retail sector.    Junichiro Ikeda, president and CEO of Mitsui O.S.K. Lines (MOL), says innovation holds the key to the future of the Japanese ocean carrier’s operational success.
   In a New Year’s message to employees, Ikeda said, “It is no exaggeration to say that the voice of the customer is the wellspring of innovation. Let’s actively seek out the views of customers not only in Japan, but also overseas, and listen to them carefully, thereby capturing an expanded range of opportunities to thrive and succeed.”
   In the containership segment, Ikeda said he was “confident that a new 20,000 TEU-class containership and MOL FSRU CHALLENGER, both of which were delivered last year, will serve as part of the core fleet underpinning our future.”
   MOL has and will strategically allocate resources to business that have a clear competitive edge, he said, a strategy that lead to the creation of Ocean Network Express (ONE) in conjunction with fellow Japanese carriers “K” Line and NYK.
   Ikeda noted environmentally focused investments such as in liquified natural gas (LNG) power for ships, as well as in offshore businesses and wood chip transportation in 2017. He said MOL is committed to renewable energy, but that its current initiatives would not be enough to achieve the firm’s long-term environmental initiatives.
   “In 2017, we drew up the MOL Group Environmental Vision 2030 to articulate our long-term environmental targets,” he said. “As conventional fossil fuels continue to be replaced with renewable energy, we believe that initiatives to reduce our environmental impact as a shipping company that transports fossil fuels will in turn help to reduce the environmental impact of customers who use our services.
   “Heightened environmental awareness in society compels us to achieve further transformation, or in other words, to drive innovation. We are pushing ahead with this imperative. Specifically, we seek to develop environmental and emissions-free businesses into future core businesses of the MOL Group, a key pillar of the management plan.”
   Ikeda also cited Amazon as a dominant player and innovator in the retail sector, something the shipping industry is not immune to.
   “No one should be surprised to see disruptive innovation reshape the shipping industry at any time,” he said. “Know that once we can clearly see the change, it is already too late,” he said. “The frontrunners who instigated the change have already set their sights farther ahead.
   “The tides of change are relentless,” added Ikeda. “In this environment, although we have a huge number of priorities that we must address, I’d like us to rise above our circumstances as One MOL. To this end, we must see this environment as an opportunity and remain focused on the goal of realizing our Vision for the MOL Group Ten Years from Now.”