Japan’s shipping heavyweight Mitsui O.S.K. Lines (MOL) is set to purchase LBC Tank Terminals, a Dutch tank terminal operator focused on handling and storing chemical cargo in Europe and the US, in a deal worth a whopping $1.7 billion.
As disclosed, the deal was signed on March 7, 2025, and is now pending regulatory approvals. The overarching aim of the transaction is said to be strengthening MOL’s foothold in the chemical cargo logistics sector.
Specifically, according to the Tokyo-headquartered shipping player, by clinching 100% of the membership rights of LBC, MOL can expand its portfolio to include small-lot transport using tank containers.
What is more, representatives from Mitsui O.S.K. Lines have highlighted that with the demand for the transportation of ammonia and carbon dioxide (CO2) anticipated to surge as a result of global decarbonization efforts, MOL Group could leverage the acquisition of LBC to give a boost to the development of its energy business by adding onshore storage to its logistics portfolio.
The recent transaction is understood to be in line with the group’s “Blue Action 2035” vision, described as a strategy that “integrates sustainability with business growth.” More precisely, as explained, the action plan puts into the spotlight a vision focused on environmental as well as social challenges in the wake of the maritime industry’s net zero by 2050 goal.
As part of the initiative to support both business growth and sustainability endeavors, MOL Group has made numerous strategic investments in recent times. In March 2024, for example, MOL Chemical Tankers finalized the purchase of Fairfield Chemical Carriers (FCC), a chemical tanker service company based in the US. The transaction was reportedly valued at $400 million.
More recently, namely in January 2025, MOL completed the acquisition of Swiss open-hatch vessel owner and manager Gearbulk, revealing that it would own a 72% stake of the company moving forward.
The following month, in mid-February, MOL Group announced two more investment decisions: one in California-based Twelve Benefit Corporation , a developer of synthetic fuels (e-fuels) and chemicals, and another in 13 Mari , a US-headquartered developer of ‘smart’ elements that can be retrofitted to vessels’ hulls for an ‘improved’ environmental impact.
As informed, Twelve was backed by investments from MOL Switch, a US-based subsidiary of the Japanese shipping giant formed to plough money into decarbonization technologies, as well as Mitsui & Co., Development Bank of Japan, Advantage Partners, and Toppan Global Venture Partners.
On the other hand, at the end of November 2024, LBC wrapped up an acquisition of its own, that of compatriot Evolution Terminals. As part of this initiative, LBC said it would further develop its new facility into a hub for the storage and distribution of eco-friendly products needed for the energy transition.