Acquisition of LBC Tank Terminals – Accelerating our

Mitsui O.S.K. Lines, Ltd. (MOL) has announced a significant acquisition, purchasing 100% of LBC Tank Terminals Group Holding Netherlands Coöperatief U.A. for approximately $1.715 billion. This strategic move aims to enhance MOL’s chemical logistics operations and was formalized with a sale and purchase agreement signed on March 7, 2025. The transaction is pending necessary regulatory approvals.

Strengthening Chemical Logistics

LBC Tank Terminals is recognized as one of the largest independent tank terminal operators globally, specializing in the handling and storage of chemicals. With operations in key chemical hubs such as Antwerp, Rotterdam, and the US Gulf Coast, LBC operates seven terminals that collectively offer a storage capacity of around 3 million cubic meters. The company provides essential services to chemical manufacturers and energy firms, facilitating the storage of products at critical shipping and arrival ports.

This acquisition aligns with MOL’s strategy to expand its chemical logistics business, which has already seen growth through previous investments in Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024. By integrating LBC’s onshore storage capabilities, MOL aims to create a comprehensive “Total Chemical Logistics Service” that encompasses maritime transport and small-lot deliveries using tank containers. This expansion is expected to enhance MOL’s ability to meet diverse customer needs effectively.

MOL to Explore CO2 Ship Transport in Japan’s Carbon Storage Project

As the demand for transporting ammonia and CO₂ rises in the context of a decarbonized economy, MOL plans to leverage LBC’s infrastructure to accelerate its next-generation energy initiatives. The acquisition is projected to yield an investment return of approximately 10% as LBC increases its tank capacity and expands its operations.

Future Growth and Strategic Alignment

MOL’s acquisition of LBC is a key component of its “BLUE ACTION 2035” management plan, which focuses on transforming the company into a Social Infrastructure Group. This strategy aims to diversify MOL’s revenue streams away from traditional shipping, thereby stabilizing its financial performance. By reducing reliance on market-driven shipping activities, MOL seeks to establish a more resilient business model.

Looking ahead, MOL is committed to achieving further growth by harnessing synergies between its chemical tanker operations and tank container business. The integration of LBC’s capabilities is expected to play a crucial role in advancing MOL’s objectives in the chemical logistics sector and supporting its broader sustainability goals.

As of now, MOL has confirmed that there will be no changes to its year-end dividend forecast announced on January 31, 2025, ensuring stability for its shareholders during this transformative phase.