MITSUI OSK Lines is to acquire 100% of LBC Tank Terminals, specialized in the storage of liquid bulk cargoes, mainly chemicals. The company has a total capacity of about 3 million m3 in seven terminals located in major chemical hubs in Europe and on the US Gulf Coast.
The operation is worth €1.7 billion. It will enable the Japanese shipping company to support its next-generation energy business, which focuses on transporting ammonia and carbon dioxide.
The deal, which will make LBC a fully-owned subsidiary of MOL, is still pending approval by the competent authorities.
Translation by Giles Foster
