Japanese shipowner Mitsui O.S.K. Lines, Ltd. (MOL) is buying 100% of the membership rights of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. to strengthen its chemical logistics business.
The sale and purchase agreement was signed on March 7, with the acquisition price expected to be around $1,715m.
The company headquartered in Rotterdam is one of the world’s largest independent tank terminal operators primarily handling and storing chemicals in Europe and the US.
As disclosed, the closing of the transaction is subject to obtaining permits and approvals from the relevant authorities.
LBC operates seven terminals in the world’s leading chemical hubs in Europe (Antwerp and Rotterdam) and the US Gulf Coast region (Houston, Freeport and Baton Rouge).
MOL claims that it has already expanded its business scale in the chemical tanker business by acquiring shares in Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024, boasting one of the largest fleets in the world.
Looking ahead, MOL aims to achieve further growth by leveraging synergies with chemical tanker business, and tank container business, as well as advancing its next-generation energy business.
