MOL has changed Azalea Maritime’s name to MOL Maritime (Europe) following the acquisition.
The newly re-branded company is expected to support the safety of MOL’s operations.
MOL Maritime (Europe) also intends to improve the stable supply of high-quality seafarers for liquefied natural gas (LNG) carriers and tankers.
The company is anticipated to use its experience in the European seafaring sector and knowledge in the manning business when serving its customers.
Azalea Maritime primarily focuses on the provision of officers and crew members for various types of vessels, including partial manning services.
Additionally, Japan’s Minaminippon Shipbuilding and its shareholders Mitsui Engineering & Shipbuilding and MOL have reached an initial agreement to divest Minaminippon’s shares to Imabari Shipbuilding, as part of a separate development.
The arrangement is expected to become effective on 1 April.
The signatories of the agreement are expected hold further negotiations before closing the deal.
Imabari Shipbuilding is primarily engaged in the construction and repair of various types of ship.
The company operates three business offices and nine shipyards in Japan’s Seto Inland Sea region, building more than 90 vessels annually.
Imabari Shipbuilding also offers a variety of production services ranging from market research to construction, and aims to provide appropriate solutions for its customers.