PETALING JAYA: Offshore support vessel and marine transport provider Lianson Fleet Group Bhd’s (LFG) 45%-owned joint venture Nusantara Maritime Sdn Bhd has entered into a memorandum of agreement for the proposed acquisition of MT High Tide, a medium-range chemical tanker for US$28.5 million, equivalent to RM111.85 million.
The proposed acquisition marks the group’s first entry into the chemical tanker segment, building upon the joint venture established in March 2025 with Precious Shipping (Singapore) Pte Ltd (a subsidiary of Precious Shipping PLC, listed in Thailand) and Emstraits Navigation Sdn Bhd.
The partnership reinforces LFG’s strategic pivot towards diversifying its maritime asset portfolio working alongside experienced and reputable partners. The global chemical tanker industry is poised for continuous growth and is projected to grow at a compound annual growth rate of 5.6% from US$41.2 billion in 2026 to US$63.7 billion by 2034, representing a complementary maritime vertical for the group that will offer differentiated earnings profiles driven by the distinct demand cycles.
Barring any unforeseen circumstances, the proposed acquisition is expected to be completed by October.
LFG managing director Lim Chern Wooi said, “This investment marks LFG’s first meaningful step into the international product tanker market, a segment driven by fundamentally different demand dynamics to our existing fleet. With experienced joint venture partners alongside us sharing a clear strategic vision, we are building a platform that broadens the group’s earnings base and lays the foundation for long-term value creation in the tanker segment.”
Precious Shipping PLC managing director Khalid Hashim said, “We are pleased to partner with LFG and Emstraits in this strategic transaction, which marks an important milestone for Nusantara Maritime as it enters the product tanker segment. By bringing together experienced partners with aligned long-term objectives, we believe this platform is well positioned to pursue opportunities in a complementary shipping sector with distinct market drivers.”
Emstraits Navigation said this acquisition reflects a bold yet measured strategy to enter into the tanker segment and we are proud to be part of this journey as they build towards increasing Malaysian participation in this segment.
