Mitsui O.S.K. Lines, Ltd. (MOL) has announced its decision to acquire 100% of the membership rights of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. (LBC), one of the world's largest independent tank terminal operators primarily handling and storing chemicals in Europe and the United States.

The Japanese transport company said the move will strengthen its chemical logistics business.

"The sale and purchase agreement was signed on March 7, 2025, with the acquisition price expected to be approximately US$ 1,715 million," MOL said.

The closing of the transaction is also subject to obtaining permits and approvals from the relevant authorities.

LBC primarily handles and stores chemicals, operating seven terminals in the world's leading chemical hubs in Europe (Antwerp and Rotterdam) and the US Gulf Coast region (Houston, Freeport, and Baton Rouge).

It has 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.

Growth opportunity in chemical logistics

"MOL Group positions the chemical logistics business as a business of growth, and this acquisition is part of that strategy," the announcement said.

It added that the company has already expanded its business scale in the 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 our lineup to include everything from maritime transport to small-lot transport using tank containers," MOL said, adding that this also enables the company to 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 the acquisition of LBC is in line with its "BLUE ACTION 2035" management plan to become a social infrastructure group as it seeks to rebalance its portfolio to non-shipping revenues and assets and a more stable revenue business and reduce the exposure to the market-driven shipping business.