MOL completes the acquisition of LBC Tank Terminals

Mitsui O.S.K. Lines, Ltd. today announced that on June 30, it completed the acquisition of all membership rights in LBC Tank Terminals Group Holding Netherlands Coöperatief U.A.. The acquisition price of the membership rights is US$ 1,715 million.

The MOL Group has positioned the chemical logistics business as a strategic business domain where it expects growth in the future. Following acquisitions of Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024, the acquisition of LBC will enable the MOL Group to strengthen its chemical logistics service by incorporating tank storage business into its portfolio, alongside marine transportation. This business expansion will allow MOL Group to respond quickly to the diverse needs of customers, as well as to grow as a pillar of its stable revenue business as stated in the portfolio strategy of the BLUE ACTION 2035 management plan, since tank terminals are considered to be a low market volatility business.

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 President & CEO Takeshi Hashimoto commented, “We are excited to welcome, one of the world’s largest tank terminal operators, LBC to the MOL Group. Together with LBC, we will accelerate our business reforms into a social infrastructure service provider to achieve our long-term Group Vision. We see great potential for both companies’ growth by combining MOL’s global reach with LBC’s expertise in tank terminal operations and creating new value for customers and society. Together with LBC, we will expand the value-chain of the next-generation energy business, in addition to strengthening the chemical logistics business”.

LBC Group Chief Executive Officer Frank Erkelens commented, “We look forward to beginning this new chapter as part of the MOL Group and unlocking the full potential of our combined strengths. Guided by shared values, complementary expertise, and long-standing commitment to excellence, we see great opportunities to make a meaningful impact, expand our global presence, and support the evolving needs of next-generation energy and chemical industries. Together, we are uniquely positioned to deliver on our ambitions for growth, innovation, and a sustainable future”.