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MOL to Build New European Port

MOL to Build New European Port

Japanese carrier Mitsui O.S.K Lines (MOL) will build a new port in south-eastern Turkey as part of a strategic agreement with Turkish steel giants Tosyali Holding A.S (Tosyali) to improve cargo transport between Europe, Africa and Asia.

According to a statement, the parties have signed a memorandum of understanding (MoU) to study the possibility of a partnership in the transport of raw materials and steel products in Tosyali’s production network in Turkey and overseas.

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Part of that will see the new aforementioned port on the country’s south-eastern coast, although there are no further details on size.

MOL says the deal “comprehensive strengths that enable the provision of one-stop solutions to the various transportation needs of customers,” and that it will strengthen the carrier’s business structure in Turkey and Africa.

Tosyali is a major Turkish steel company, with a 2018 output of over 10 million tons and is developing its business on a broad scale both in Turkey and around the world.