Tokyo-headquartered Mitsui O.S.K. Lines (MOL) is preparing to expand beyond its core shipping operations in India by foraying into rail logistics, potentially through a joint venture with a local partner.
“We are discussing with a few logistics companies… hopefully by the end of this year or early next year, we should have some announcements,” said Captain Anand Jayaraman, Executive Officer, South Asia & Middle East Region, MOL, at a media interaction.
MOL aims to combine its global expertise with a local partner’s market knowledge to offer integrated services. The company, which earlier ran a small car-carrying transport business in Chennai, is also exploring entry into cold chain logistics.
This move mirrors a trend seen among global players like DP World, which has diversified from port terminal operations into end-to-end logistics solutions in India.
Alongside operational expansion, MOL’s corporate venture capital arm, MOL Plus, is finalizing minority investments in three to four Indian startups focused on logistics innovation. “The idea is to handhold such startups and introduce them to the best practices followed by us,” said Captain Jayaraman.
MOL has steadily strengthened its presence in India, transitioning from an agency model to a direct presence with the launch of MOL India Pvt. Ltd in 2021. The company currently operates 13 Indian-flagged ships, including three registered at the IFSC in Gandhinagar and 10 in Mumbai, and continues to support both PSU and private sector clients with crude, LPG, and product tanker services.
