Mitsui O.S.K. Lines, Ltd. (MOL) has completed its acquisition of LBC Tank Terminals Group by securing all membership rights in the company, following approvals from relevant authorities. The transaction, announced on March 7, 2025, closed on June 30, with a deal value of US$ 1.715 billion.
LBC, headquartered in Rotterdam and led by CEO Frank Erkelens, is one of the world’s leading tank terminal operators. The acquisition marks a major step in MOL’s strategic expansion in chemical logistics, complementing earlier acquisitions such as Nordic Tankers (2019) and Fairfield Chemical Carriers (2024).
By incorporating onshore tank storage into its offerings, MOL aims to build a stable revenue base with low market volatility, aligning with the company’s long-term “BLUE ACTION 2035” strategy. The move will also help accelerate MOL’s entry into next-generation energy logistics, including ammonia and CO₂ transport and storage solutions for a decarbonized future.
MOL President & CEO Takeshi Hashimoto said the acquisition would enhance MOL’s transformation into a social infrastructure service provider, combining its global shipping network with LBC’s terminal expertise.
LBC CEO Frank Erkelens welcomed the partnership, highlighting the potential to “unlock the full potential of our combined strengths” and support sustainable growth in the chemical and energy sectors.
This acquisition positions MOL as a more comprehensive logistics provider, integrating marine transport and tank storage to better serve evolving global demand in chemical and energy supply chains.
