When Akio Mitsuta took over as the managing executive of Japanese shipping giant Mitsui OSK Lines (MOL)’s tanker division this summer, he was tasked with reducing the company’s risk exposure in the sector.
The risk-reduction scheme is outlined in MOL’s current midterm business plan, Steer for 2020, which calls for an 11% drop in the size of the 180-tanker fleet by 2019.
But
