MOL executive: Eyeing bulk acquisition
An executive with Japanese ocean carrier MOL said the company might try to take advantage of the plunging bulk shipping market by making an acquisition.
'We're willing to spend several tens of billions of yen on an acquisition,' Kenichi Yonetani a senior managing executive officer at MOL, told Bloomberg Monday. 'This year is a chance for people who can buy. We don't see a problem in getting financing from banks to pay for our investment.'
Yonetani declined to mention any possible targets.
The Bloomberg report noted that MOL is Japan's most profitable commercial shipping line.