MOL considering selling container business

MOL is Japan’s second largest container carrier and is rated 12th in the world. The company’s container ships play a significant role in the South African shipping business, being a member of the South African Europe Container Service (SAECS) while also participating in several Asia to South Africa services.

The company is said to believe that it MOL would accrue more benefits if it sold its container business off to a Japanese rival such as NYK or K Line.

Although MOL is forecasting a profit for the first half of 2009 it has admitted that the loss-making container division is pulling down profits and is not expecting to be profitable for the first half of the year.