MOL spends $1.7bn buying Dutch tank terminal operator

Japanese shipowner Mitsui OSK Lines (MOL) is buying LBC Tank Terminals, one of the world’s largest independent tank terminal operators primarily handling and storing chemicals in Europe and the US. The acquisition of the Dutch firm will cost $1.72bn with the closing of the transaction subject to obtaining permits and approvals from the relevant authorities.

LBC operates seven terminals in Antwerp, Rotterdam, Houston, Freeport and Baton Rouge with a total storage capacity of approximately 3m cu m, berth facilities, pipelines and loading facilities for rail and truck transport.

Following the 2019 acquisition of Nordic Tankers and last year’s purchase of Fairfield Chemical Carriers, MOL now operates one of the largest chemical tanker fleets in the world.