MOL completes $1.7 billion acquisition of LBC Tank Terminals

The company noted that the deal will help it grow its energy business by adding onshore storage for products like ammonia and CO2. This follows MOL's previous acquisitions of Nordic Tankers in 2019 and Fairfield Chemical Carriers in 2024.

MOL President and CEO, Takeshi Hashimoto, said the company aims to combine its global reach with LBC's expertise in terminal operations. Frank Erkelens, CEO of LBC, added that the partnership will help support the evolving needs of the energy and chemical industries.