PETALING JAYA: Lianson Fleet Group Bhd (LFG), an offshore support vessel (OSV) and marine transport provider, has entered into two separate memorandums of agreement for the acquisition of MV Tian Mu Shan and MV Yan Dang Shan, for a total cash consideration of US$52.3 million (RM213.2 million).
The Ultramax-class bulk carriers will be a first for the group, marking its entry into the larger bulk carrier segment, positioning above its existing fleet of Supramaxes.
Upon completion of the acquisitions, alongside the recently announced Supramax bulk carrier to be delivered in August, the group’s marine transport fleet will expand to a total of 41 vessels – comprising 17 barges, 17 tugboats and seven bulk carriers.
This milestone aligns with LFG’s strategic objective to enlarge its marine transport arm focusing on long-term charter asset classes which will continue to enhance the group’s earnings visibility and reinforce its position as Malaysia’s largest dry bulk maritime asset player.
Barring any unforeseen circumstances, the vessel acquisitions are expected to be completed by October.
LFG managing director Lim Chern Wooi said, “Over the past few years, we have been deliberate in reshaping LFG into a diversified and more resilient maritime group. The expansion of our bulk carrier fleet is a continuation of this strategy, allowing us to participate in global dry bulk shipping markets that are supported by different demand cycles from our core offshore businesses.
“We are strategically positioning the group with a stronger foundation of recurring income, greater earnings resilience and enhanced participation across the regional and international maritime value chain.”
