MOL CEO Junichiro Ikeda is focusing on competitiveness and environmental innovation as the Japanese company begins its new financial year.
In an address to staff, he launched the shipowner's "rolling plan 2019", concentrating on developing the emissions-free business into one of its future core operations.
The company will also "invest management resources in fields where we have the greatest strength, with our offshore business," he said.
"We are currently seeing a trend toward economic deceleration, and the ocean shipping market still faces many uncertain factors," he added.
"By no means we can say that we are in a strong position in our field. We set sail in FY2019 while anticipating rough seas, but we can see our course clearly.
"The will we have inherited from our predecessors, and our accumulated efforts and achievements, must become the impetus for further growth. We are expecting ONE to recover from its initial teething problems and return to profitability."
Turning to the IMO 2020 low-sulphur regulations, he added MOL will come up with "counter-plans" ahead of other companies and switch to compliant fuel.
"This seems like simple common sense, but realising our plans hinges on the formulation of efficient operation plans by those in charge of vessel operations and excellent negotiation skills on the part of account representatives, as well as marine technology and engine expertise," Ikeda said.
MOL is setting up an environmental management committee to control its green strategies.
