MOL Acquires LBC Tank Terminals in $1.72 Billion Deal

Japanese shipping giant Mitsui OSK Lines (MOL) has announced the acquisition of LBC Tank Terminals, a leading independent operator specializing in the storage and handling of chemicals in Europe and the U.S.

The purchase of the Netherlands-based company is valued at $1.72 billion, with the deal expected to be finalized once all necessary permits and regulatory approvals are obtained.

LBC currently manages seven tank terminals across Antwerp, Rotterdam, Houston, Freeport, and Baton Rouge, offering a total storage capacity of around 3 million cubic meters. The company’s facilities also include berths, pipelines, and loading infrastructure for rail and truck transport.

This acquisition marks MOL’s latest expansion in the chemical logistics sector. It follows the 2019 acquisition of Nordic Tankers and last year’s purchase of Fairfield Chemical Carriers, solidifying MOL’s position as one of the world’s largest operators of chemical tankers.