Mitsui O.S.K. Lines, Ltd (MOL), the Japanese transport giant and the world’s second largest ship owner by fleet size, has elevated Anand Jayaraman as the Executive Officer, responsible for South Asia and the Middle East in addition to his current role as the Regional Head of Marketing in charge of South Asia and the Middle East, the company said in a statement.
Jayaraman will assume the new role from 1 November.
As the Executive Officer responsible for South Asia and the Middle East based in Mumbai, Jayaraman takes over from Ajay Singh, who was the Senior Managing Executive Officer, responsible for South Asia and the Middle East based in Tokyo.
Ajay Singh, who completed four years at MOL, will take on the role of a Senior Executive Advisor at the Group’s headquarters in Tokyo. In this role, he will assist the MOL Group’s Chief Executive Officer and the board in its strategic transformation and growth globally.
Earlier this year, MOL opened a unit – MOL Shipping IFSC Pvt Ltd – in the Gujarat International Finance Tec-City (GIFT City) for leasing and operating ships.
The GIFT City is India’s first International Financial Services Centre (IFSC) under the Special Economic Zone Act – a tax-free offshore enclave within India that seeks to onshore India focused business carried out in other parts of the globe.
MOL is already India’s fourth largest fleet owner, running nine ships registered under the Indian flag from the Domestic Tariff Area (DTA) regime.
Sakura Energy Transport Pvt Ltd, the Indian unit of MOL, runs three very large gas carriers, two very large crude carriers, two medium gas carriers and two product tankers since starting operations in April 2021.
MOL’s Indian unit is engaged in owning and chartering tankers such as oil, gas and chemical carriers to entities, including state-run oil refiners such as Indian Oil Corporation Ltd.
(source: ET Infra)
