Mitsui O.S.K. Lines (MOL) has acquired 100% of the membership rights of LBC Tank Terminals Group Holding Netherlands Coöperatief (LBC), one of the world’s largest independent tank terminal operators primarily handling and storing chemicals in Europe and the United States.
With the acquisition, MOL aims to strengthen its chemical logistics business.
The sale and purchase agreement was signed on March 7, 2025, with the acquisition price expected to be approximately $1.7 billion.
The closing of the transaction is subject to obtaining permits and approvals from the relevant authorities.
LBC is one of the largest global independent tank terminal companies, primarily handling and storing chemicals, operating seven terminals in the world’s leading chemical hubs in Europe, at Antwerp and Rotterdam, and the U.S. Gulf Coast region, in Houston, Freeport and Baton Rouge.
With a total storage capacity of approximately 3 million cubic metres, berth facilities, pipelines and loading facilities for rail and truck transport, LBC supports the supply chains of customers such as chemical manufacturers and energy companies, through storage services at shipping and arrival ports.
MOL has already expanded chemical tanker business by acquiring shares in Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024, boasting one of the largest fleets in the world.
With the acquisition of LBC, MOL has gained onshore storage capabilities at tank terminals and expanded its lineup to include everything from maritime transport to small-lot transport using tank containers.
“This enables us to flexibly meet diverse customer transportation needs and establish a ‘Total Chemical Logistics Service’ system, aiming to lead the global chemical logistics industry. In addition, with demand for the transportation of ammonia and CO2 expected to grow as a result of a more decarbonized society, MOL Group will accelerate the development of its next-generation energy business by adding onshore storage to its logistics offering through the acquisition of LBC,” MOL said in a statement.