Mitsui O.S.K. Lines, Ltd. (MOL) announced on March 7, 2025, its decision to acquire 100% of the membership rights of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. (LBC) for approximately US$ 1,715 million, aiming to strengthen its chemical logistics business, according to the company's release.
LBC, headquartered in Rotterdam and established in October 2013, operates seven terminals in key chemical hubs in Europe (Antwerp and Rotterdam) and the US Gulf Coast (Houston, Freeport, and Baton Rouge), with a total storage capacity of 3 million cubic metres. The company supports supply chains for chemical manufacturers and energy companies through storage services at shipping and arrival ports, utilizing berth facilities, pipelines, and loading options for rail and truck transport.
MOL, which has expanded its chemical tanker business through acquisitions of Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024, views this acquisition as part of its growth strategy. The addition of LBC’s onshore storage capabilities will enable MOL to offer a "Total Chemical Logistics Service" system, covering maritime transport to small-lot transport using tank containers, and position the company to lead the global chemical logistics industry.
The acquisition also supports MOL’s next-generation energy business, anticipating increased demand for ammonia and CO₂ transportation in a decarbonized society, with an expected investment return (Equity IRR) of 10%.
The transaction, aligning with MOL’s “BLUE ACTION 2035” management plan to shift toward a Social Infrastructure Group with stable non-shipping revenues, is subject to regulatory approvals and is not expected to affect the year-end dividend forecast announced on January 31, 2025.
The acquisition was part of a competitive bidding process initiated in November 2024, with MOL outbidding firms like KKR & Co. and VTTI Energy Partners.
Mitsui O.S.K. Lines, Ltd. (MOL) is a Japan-based shipping company operating a diverse global fleet, including chemical tankers, and is pursuing a strategic shift toward social infrastructure under its “BLUE ACTION 2035” plan.
LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. (LBC) is an independent tank terminal operator headquartered in Rotterdam, specializing in chemical storage with a global network of seven terminals. LBC’s recent expansion plans include a new terminal in Vlissingen, Netherlands, set to be operational by the end of 2028 with 150,000 cubic metres of ammonia storage capacity.
Ardian (via Lanturn SCA) is a global private investment house managing a significant stake in LBC through its investment vehicle Lanturn SCA, alongside other institutional investors.