On May 27, 2025, the Belgian Competition Authority (BCA) granted approval for Mitsui O.S.K. Lines to acquire 100% of the share capital of LBC Tank Terminals Group Netherlands. This acquisition will enable Mitsui to fully control LBC Tank Terminals, a significant player in the chemical storage sector.

The transaction was officially notified to the BCA on April 27, 2025. Mitsui O.S.K. Lines, a Japanese multimodal transport group based in Tokyo, is known for its diverse shipping operations globally, including automobile and tanker transport in Belgium through its subsidiaries.

LBC Tank Terminals Group Netherlands operates as an independent chemical storage company with facilities in key locations such as Rotterdam and Antwerp. The company specializes in storing liquid chemicals, base oils, crude oil, and other petroleum products, with two terminals located in the port of Antwerp.

The BCA's decision highlighted that there were no significant horizontal overlaps or vertical links between the activities of Mitsui and LBC, allowing the authority to apply a simplified procedure for the review. Consequently, the BCA concluded that the merger did not raise any competitive concerns.