Mitsui O.S.K. Lines, Ltd. (MOL) has announced that it completed the acquisition of all membership rights in LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. on June 30, 2025.

MOL received approval from all relevant authorities for the acquisition pursuant to the sale and purchase agreement signed on March 7, 2025.

LBC Tank Terminals provides bulk liquid storage solutions with terminals located in key locations across Europe and the United States.

The acquisition price of the membership rights is US$1.715 billion.

The MOL Group noted that 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," it said.

MOL added that this business expansion will also allow the 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 Group will 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," said Takeshi Hashimoto, MOL president & CEO.

"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 said the company looks 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," he added.