MTL Looking to Expand

Richard du Moulin, the chief executive and chairman of Marine Transport Lines Inc., says his company has sharply reduced debt since “going private” in 1989 and is “looking for ways to grow the business.”

“I believe the opportunities in shipping, particularly tankers have never been better, unfortunately, the risks are enormous,” he says.

Speaking to members of the Connecticut Maritime Association, du Moulin said the tanker business is “probably not the business for a conglomerate due to the risk to the entire enterprise and it’s not a business for partially committed companies and individuals. It’s only an appropriate business for serious, long term dedicated players who recognize the opportunities and risk and have the commitment to do it right.”

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