MOL grows tank storage business as it completes LBC Tank Terminals acquisition

July 2, 2025, by Naida Hakirevic Prevljak

Japanese shipping major Mitsui O.S.K. Lines (MOL) has become the 100% shareholder of LBC Tank Terminals, the Netherlands-based tank terminal operator in the chemical handling industry.

As disclosed, MOL received approvals from all relevant authorities for the acquisition on June 30, 2025.

To remind, the parties signed the $1.7 billion sale and purchase agreement in early March 2027.

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The Japanese group said it has positioned the chemical logistics business as a strategic business domain where it expects growth in the future. Following the 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, 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 intends to accelerate the development of its next-generation energy business by adding onshore storage to its logistics offering through the acquisition of LBC.

“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,” Takeshi Hashimoto, MOL President & CEO, commented.

“Together with LBC, we will expand the value-chain of the next-generation energy business, in addition to strengthening the chemical logistics business”.

“We look forward to beginning this new chapter as part of the MOL Group and unlocking the full potential of our combined strengths,” Frank Erkelens, LBC Group Chief Executive, said.

LBC Tank Terminals has storage facilities for liquid chemicals, oil, and refined petroleum products. It has seven terminals in operation in Antwerp and Rotterdam in Europe and in the U.S. Gulf Coast region, including Houston, Freeport and Baton Rouge.

As informed, LBC will continue to operate as an independent company but will work closely with MOL to identify impactful opportunities to expand into new service areas and product segments.

In other news, MOL revealed it established MOL Bay Links, a holding company aimed at strengthening the foundation of the group’s tugboat services. Effective July 1, MOL transferred all shares it held in Nihon Tug-Boat, Green Shipping, and Green Kaiji Kaisha to MOL Bay Links, thereby establishing it as a holding company.