Mitsui O.S.K. Lines agreed to purchase LBC Tank Terminals for $1.72 billion, marking the Japanese shipping company’s largest acquisition in its history.
The deal, signed Friday, will give Mitsui complete ownership of the Dutch operator of chemical storage facilities primarily located across Europe and the U.S. coastlines. LBC specializes in storage tanks for chemicals, crude oil and petrochemicals, while also providing loading and unloading services for ships.
The acquisition strengthens Mitsui’s position in the specialized chemical transport sector, considered a high-barrier industry due to the technical expertise required. Chemical tankers demand advanced knowledge for cargo handling and tank cleaning, as they often transport multiple chemical types simultaneously in specially coated or stainless steel tanks.
This purchase follows Mitsui’s March 2024 acquisition of a Singaporean chemical tanker operator for $400 million, further consolidating its dominant position in the sector. The company currently operates 113 chemical tankers, cementing its status as a global leader in chemical shipping.
The transaction represents a strategic expansion of Mitsui’s logistics capabilities beyond vessel operations into terminal management, creating a more integrated service offering for chemical transportation customers.
