KUALA LUMPUR: Lianson Fleet Group Bhd has bought a Japanese-built bulk carrier for US$23 million or about RM93.9 million.
This is part of Lianson Fleet's strategy to expand its marine transportation fleet and diversify beyond offshore support vessels.
The vessel, named LFG Cengal, was acquired by its wholly-owned LFG Cengal Ltd from an unrelated third party on Oct 13, the company said in a Bursa Malaysia filing.
Built in May 2013, the Ultramax bulk carrier has a deadweight tonnage of 61,446 tonnes and is equipped with five cargo holds and five cargo hatches.
"The vessel acquisition is funded through internally generated funds," it added.
The vessel is expected to contribute positively to earnings through charter income for the financial year ending Dec 31, 2026 and beyond.
The company said the acquisition would strengthen its recurring income stream and improve earnings visibility, supported by the vessel's long-term charter potential and utilisation.
"Demand and charter rates for bulk carriers remain robust, supported by regional trade flows of bulk cargo and commodities.
"Elevated tonne-miles are also observed, driven by cargo being rerouted over longer distances due to trade dislocations and regional supply-demand imbalances," it said.
Lianson Fleet said the acquisition is expected to improve earnings visibility by capitalising on prevailing strong charter rates and high utilisation levels for similar vessels.
Managing director Lim Chern Wool said the acquisition supports its strategy to build a diversified maritime business with the scale and capabilities to tap opportunities across the wider industry and sustain growth amid changes in the global maritime landscape.
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