News / MOL continues liner integration strategy with Utoc acquisition

Credit Utoc Corp

Japan’s MOL is emulating other liner giants in bringing logistics companies under its umbrella, including domestic operator Utoc Corp.

MOL made an offer for Utoc, part of the Mitsui group, on 30 November and completed the acquisition yesterday.

The carrier said its acquisition could increase its revenue, especially as the unprecedented spike in container shipping demand has fuelled requirements for better logistics.

The purchase price was not disclosed ,but Utoc had a market capitalisation of ¥31.27bn ($270.28m) when trading on the Tokyo Stock ...