LBC Tank Terminals (LBC) is pleased to announce a change in ownership. On March 7th, an agreement was reached between its current owners (Ardian, APG and PGGM) and Mitsui O.S.K. Lines (MOL), marking the beginning of a new phase for the company. Following all regulatory approvals, the transaction is expected to close within the next three to four months.

LBC is one of the world's largest independent chemicals focused storage businesses. We own and operate seven state-of-the-art storage terminals at locations in the United States (Houston, Baton Rouge, Freeport) and Europe (Antwerp, Rotterdam), offering loading and unloading services for various transportation modes such as pipeline, vessel, barge, rail tank car and truck. Our total current storage capacity accounts for 3.3 million cubic meters, strategically located at major chemical production hubs and connected to vital chemical processing plants via pipeline infrastructure networks.

Under our current owners, LBC improved operations and safety as well as our sustainability performance to reach industry leading performance as recognized by our Platinium Ecovadis rating and 5-star GRESB rating. With support from our owners, LBC completed significant expansions and developed new projects across chemical and new energies markets, which are currently under construction. These expansion projects allowed LBC to strengthen our capabilities and address the rising demand for storage facilities capable of handling a broader array of new energy products.

MOL is one of the world’s largest shipping companies and is headquartered in Tokyo, Japan. It specializes in marine transportation and logistics, operating a diverse global fleet that includes container ships, bulk carriers, oil tankers, chemical tankers, LNG carriers, car carriers, and specialized vessels. The company is recognized for its focus on innovation and sustainability in the global maritime industry.

MOL positions the chemical logistics business as a business of growth, and this acquisition is part of that strategy. MOL 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. With the acquisition of LBC, MOL is aiming to lead the global chemical logistics industry. 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 infrastructure that will support the energy transition through the acquisition of LBC.

The operational and commercial synergies between MOL and LBC will provide significant opportunities to further develop the full potential of the company’s platform, particularly in the context of emerging sectors such as new energies. We are confident that this change will position LBC for even greater success, supporting our long-term strategic objectives.

While the change in ownership marks an important milestone, LBC will continue to operate as an independent platform, with a continued focus on safety, sustainability, service, and operational efficiency.

We look forward to further driving growth on our strong foundation and with the support of MOL. As we enter this new phase, we are enthusiastic about the opportunities that lie ahead and remain committed to maintaining our position as an industry leader, providing the expertise and infrastructure necessary to advance the energy transition.

About LBC

As a leading international and independent liquid bulk storage company, we form an integral part of our customers’ supply chains. We provide essential infrastructure and innovative services in the process of transporting products from areas of supply to areas of demand. In our position as connected partner in current and future logistic networks, we are a relevant player in the energy transition. We enable efficiency gains in our customers’ businesses and support their growth ambitions, paving the way towards a carbon-neutral society.

About Mitsui O.S.K Lines

Mitsui O.S.K. Lines, Ltd. (MOL), as a multi-modal transport group, meets the needs of the era in a wide variety of fields including dry bulkers, crude oil tankers, LNG carriers and offshore business, methanol carrier, chemical tankers, product tankers, car carriers, ferries, RORO ships, and logistics. MOL’s activities are truly borderless, based on the operation of one of the world’s largest merchant fleets, backed by expertise and technology developed throughout our over 130-year history. MOL supports the growth of the world economy with the entire globe as our stage, while continually evolving into an excellent and resilient corporate group.