MOL Logistics to Participate in WBLP Project

MOL Logistics Co., Ltd. (President: Kazuki Mori) on March 19 announced plans to participate in the Shanghai Waigaoqiao Bonded Logistics Park (WBLP), one of the areas the Chinese government established as a bonded free trade zone and to establish a new company called MOL Logistics (WBLP) Co., Ltd.
WBLP is a major project promoted by the Chinese government and the city of Shanghai as a trial for an advanced free trade zone.
MOL Logistics, the only Japanese company to participate in Phase I of the project, will open a logistics warehouse in this area in May, along with Shanghai HuaJia International Freight Forwarding Co., Ltd., a subsidiary of MOL Logistics, and MOL (China) Co., Ltd., a subsidiary of Mitsui O.S.K. Lines, Ltd. (MOL). From July, The facility will provide a range of services, including value-added tax refunds, which have never been offered in conventional bonded areas.
MOL Logistics is expanding its worldwide network and enhancing its sales capabilities and competitiveness as the MOL Group's core logistics company. In China, its subsidiary Shanghai HuaJia acquired a license as an "international freight forwarding agent, first class" from Civil Aviation Authority of China in August, enabling it to offer higher quality services. Logistics needs in this market have increased as many more cargo owners enter in the area. MOL Logistics continues seek new opportunities in "evolving logistics" to meet a broader range of customer needs for warehousing/logistics services and domestic physical distribution in China, where the company forecasts intensifying competition in the future.