In October 2008, we established the Offshore Business Group and made an entry into offshore business. Capitalising on technology and our expertise in the shipping business to enter the oil and gas exploration and development related business.
During many years of involvement in marine transportation including oil and gas, we have garnered highly specialised safety capabilities for vessel operations, handling dangerous cargo, and vessel management. Making use of our experience, we decided to expand our business from downstream to upstream which means oil and gas exploration and development related business. We expect that the worldwide demand for energy resources is growing and we will contribute to this growth by developing our acquired expertise over the years.
In 2009, we participated in a drillship project offshore Brazil, and in 2010 we established a shuttle tanker business that takes crude oil from offshore production units. Furthermore, in July 2011 we participated in a floating production, storage, and offloading (FPSO) project. Our growth in the offshore oil & gas industry continues and our business is expanding not only upstream but also into the floating terminal business.