Mitsui O.S.K. Lines, Ltd. (MOL) President & CEO Takeshi Hashimoto has announced the company’s decision to acquire 100% of the membership rights of LBC Tank Terminals Group Holding (LBC), one of the world’s largest independent tank terminal operators, to enhance its chemical logistics business in Europe and the United States.
The sale and purchase agreement was signed on March 7, 2025, with the acquisition price expected to be approximately US$1.715 billion. The closing of the transaction is subject to regulatory approvals from relevant authorities. LBC operates seven terminals in leading chemical hubs in Europe (Antwerp and Rotterdam) and the US Gulf Coast (Houston, Freeport, and Baton Rouge). With a total storage capacity of around 3 million cubic metres, LBC provides berth facilities, pipelines, and loading facilities for rail and truck transport, supporting the supply chains of chemical manufacturers and energy companies.
MOL has identified chemical logistics as a growth sector and has previously expanded its business through acquisitions of Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024. The acquisition of LBC adds onshore storage capabilities and complements MOL’s maritime transport and tank container services, enabling a comprehensive “Total Chemical Logistics Service” to meet diverse customer needs and strengthen global leadership in the chemical logistics industry.
With rising demand for transportation of ammonia and CO₂ in a decarbonising world, the acquisition also supports MOL’s next-generation energy business. LBC plans to expand its tank capacity, and the investment is expected to generate an Equity IRR of approximately 10%. MOL aims to leverage synergies across its chemical tanker and tank container businesses while advancing its next-generation energy initiatives.
The acquisition aligns with MOL Group’s “BLUE ACTION 2035” management plan to transform into a Social Infrastructure Group, rebalancing its portfolio toward non-shipping revenues and stable assets, and reducing reliance on market-driven shipping business.
