MOL Logistics signs agency agreement with Al Madina Logistics in Oman
Mitsui O.S.K. Lines, Ltd. announced that its group company, MOL Logistics (Japan) Co., Ltd.has signed an agency agreement with Al Madina Logistics Services Company SAOC, which has developed its logistics business in Oman, which is expected to grow as emerging market.
MOL is strategically allocating resources to the logistics business under its management plan, "Rolling Plan 2018." MOL Logistics, a core of the MOL Group's logistics business, has 290 offices in 71 countries around the world, and provides diverse logistics services such as air freight, sea freight, land transport, customs clearance, and warehousing. It will further develop its services in a proactive manner.
Main trading commodities in Oman include petroleum, natural gas, minerals, Fisheries and chemical products for export, and along with imports of completed automobiles, machinery and equipment, project cargo such as steel pipes, daily consumer goods, and so on. In the future, imports are expected to increase in step with the nation's population growth and plans to make Oman as a major logistics hub for the region. Under these circumstances, AMLS has steadily developed successful air and ocean transport services, emerging as the leader in Oman's logistics industry since its foundation in 2007. It also owns and operates advanced distribution centers and warehouses. AMLS also owns and operates the first and only dry port and CFS in Oman under Muscat Container Depot.
The tie-up with AMLS will help MOL Logistics more precisely meet various customers' logistics needs in Oman and helps AMLS to reach out to the world through MOL Logistics global network.
Oman is also working to diversify its economy and reduce its dependence on the gas and oil industry. It regards the logistics business as one of the pillars supporting this diversification effort, based on the following factors:
Its geographically advantageous location south of the Strait of Hormuz;
Free trade agreements concluded with the U.S. and Singapore;
Strong relationships with surrounding countries such as Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, Iran, and Yemen, among others.