Japan’s Mitsui OSK Lines (MOL) is looking to diversify into the cruising business. The Board of Directors of the company has decided to build two new cruise ships. The construction of these cruise ships is expected to cost $ 719 million and the first ship is expected to be delivered around 2027.
The ships are expected to be 35,000 gross tons and carry a Japanese flag. Although, many details regarding the vessels such as the shipyard at which they are to be built and whether they would have the capability to use alternative fuels are still undecided.
The board’s approval for the construction of two new cruise ships comes shortly after the Japanese government opened up the country to international tourism. The company stated that they have plans to build additional two vessels should the first two vessels emerge successful.
MOL, along with other shipping companies has raked in record profits during the pandemic. Since the shipping business is heavily influenced by the market conditions, the company stated that they are diversifying into sectors that promise more stable returns such as wind power generation and cruise tourism.
Although MOL is known for its commercial operations, there is one cruise ship in its fleet. The Nippon Maru is 547 feet long and is 22,742 gross tons. Being one of three dedicated cruise ships in Japan, it enjoys considerable popularity. Although the Nippon Maru has been only plying on Japan’s domestic routes, it is scheduled to sail a 48-day international cruise on December 15th.
The opinions expressed herein are the author’s and not necessarily those of News2Sea.