MOL acquires tank terminal business

The move, valued at around US$1.7 billion, aims to bolster MOL’s chemical logistics business and expand its global reach in the sector.

The sale and purchase agreement was signed on 7 March 2025 and regulatory approval is pending.

LBC Tank Terminals operates seven key facilities in Europe and the US Gulf Coast, including terminals in Antwerp, Rotterdam, Houston, Freeport and Baton Rouge. The terminals, with a combined storage capacity of around 3 million cubic metres, support chemical manufacturers and energy companies by providing storage services at critical shipping and arrival ports.

This acquisition aligns with MOL Group’s growth strategy in the chemical logistics sector. MOL has previously expanded its fleet and business scale in the chemical tanker industry with acquisitions such as Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024.

By acquiring LBC, MOL gains onshore storage capabilities, enhancing its service offerings across maritime transport and small-lot transport using tank containers. This acquisition supports the creation of a ‘Total Chemical Logistics Service’ system to meet diverse customer needs.

MOL says it is also preparing for future demand in ammonia and CO₂ transportation by integrating onshore storage capabilities through LBC.

MOL’s plans to diversify away from pure shipping come at a time of volatility in the industry. Andi Case, chief executive of shipping services company, Clarkson, recently called 2024 ‘another year of disruption, complexity and opportunity for global shipping markets’. “The geo-political outlook remains uncertain as we enter 2025, with ongoing regional conflicts and trade tensions creating uncertainty for markets,” he added.