Mitsui O.S.K. Lines, Ltd. (MOL), a global leader in maritime transportation, 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. This acquisition is part of MOL’s strategic initiative to expand its chemical logistics business. The deal was formalized with the signing of a sale and purchase agreement on March 7, 2025, for approximately US$ 1,715 million. The acquisition is subject to regulatory approvals and permits.
Strategic Expansion into Chemical Logistics
LBC is a leading independent tank terminal operator, specializing in the handling and storage of chemicals, oil, and refined petroleum products. The company operates seven strategically located terminals in key chemical hubs across Europe and the United States, including Antwerp and Rotterdam in Europe, and Houston, Freeport, and Baton Rouge in the US Gulf Coast region.
With a total storage capacity of approximately 3 million cubic meters, LBC offers a robust infrastructure with berth facilities, pipelines, and loading capabilities for rail and truck transport. These facilities support the supply chains of key clients in the chemical and energy sectors, providing critical storage services at shipping and arrival ports.
The acquisition of LBC is a significant step for MOL in its efforts to become a dominant player in global chemical logistics. MOL has previously expanded its presence in this sector by acquiring shares in Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024, both of which have contributed to the company’s large fleet of chemical tankers.
The addition of LBC’s onshore storage capabilities further strengthens MOL’s position, creating an integrated system that spans maritime transport, small-lot transport via tank containers, and onshore storage. This strategic acquisition enables MOL to offer a “Total Chemical Logistics Service,” designed to meet the growing and diverse transportation needs of customers in the chemical industry.
Accelerating the Development of Next-Generation Energy Business
MOL’s acquisition of LBC also supports its broader goals in next-generation energy logistics. With increasing demand for the transportation of ammonia and CO₂, driven by the global shift toward a more decarbonized society, MOL aims to accelerate its involvement in energy logistics. The inclusion of LBC’s onshore storage infrastructure is a crucial component of this strategy, enabling MOL to offer comprehensive logistics solutions that include both chemical and energy transportation services.
The acquisition is expected to deliver an investment return (Equity IRR) of approximately 10%, as LBC plans to further expand its tank capacity. MOL is optimistic about achieving substantial growth through synergies with its existing chemical tanker and tank container business, alongside its evolving next-generation energy business.
Aligning with MOL’s “BLUE ACTION 2035” Management Plan
The acquisition aligns with MOL Group’s long-term “BLUE ACTION 2035” management plan, which aims to diversify the company’s portfolio and reduce reliance on market-driven shipping businesses. The acquisition of LBC strengthens MOL’s revenue base by adding non-shipping assets, positioning the company as a more stable infrastructure player in the global logistics sector.
MOL’s chemical logistics strategy is part of its broader efforts to transform into a Social Infrastructure Group, capable of meeting the diverse needs of industries ranging from chemicals to energy. With this move, MOL is positioned to lead the global chemical logistics industry and ensure continued growth in the face of shifting market dynamics.
No Change to Year-End Dividend Forecast
Despite the significant acquisition, MOL has confirmed that there will be no changes to the year-end dividend forecast, which was announced on January 31, 2025.
About LBC Tank Terminals
LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. was established in October 2013 and is headquartered in Rotterdam, the Netherlands. The company operates a network of storage facilities primarily for liquid chemicals, oil, and refined petroleum products. LBC is owned by a combination of private investment vehicles and pension funds, including Lanturn SCA, PGGM Infrastructure Funds, and APG Infrastructure Pool 2011.
This acquisition marks a significant milestone in MOL’s growth strategy as it continues to expand its global footprint in the chemical and energy logistics markets. The strategic investment in LBC is set to enhance MOL’s service offerings and create new opportunities for the company in the rapidly evolving logistics landscape.
About Mitsui O.S.K. Lines, Ltd. (MOL)
MOL is a global leader in shipping, operating over 800 ships worldwide. Its diverse fleet includes bulk carriers, liquefied natural gas carriers, Ro-Ro car carrier ships, and oil tankers, among others. Beyond traditional shipping, MOL also engages in social infrastructure businesses, including real estate, terminal and logistics, and offshore wind power. With one of the largest merchant fleets and 140 years of history, MOL aims to be a resilient corporate group that provides new value to all stakeholders.
Source Mitsui O.S.K. Lines