February 12 - Mitsui O.S.K. Lines (MOL) is to collaborate with Shell, BP, Maersk, Stena NYK and 'K' Line in support of the United Nations Development Programme (UNDP) to support job creation and skill development projects in Somalia.

The industry partners will provide funding of USD1 million to the UNDP, which will oversee distribution of the funds in 2013 and 2014.

This collaboration between leaders in the shipping industry and UNDP is the first step in an initiative, launched in February 2012, to promote rebuilding of a stable Somalia and thus reduce the risk of piracy to seafarers in the Indian Ocean.

Other parts of the global shipping industry have also committed to provide additional funding of USD1.5 million to support other skill development projects in Somalia.