Lianson Fleet adds US$23 million Ultramax vessel
The acquisition uses internally generated funds, with charter revenue expected to contribute to earnings in FY2026 and later years.
Lianson Fleet Group Bhd has expanded its bulk shipping business with the acquisition of a third Ultramax carrier for US$23 million (RM93.9 million). According to its bourse filing, the purchase forms part of the group’s diversification beyond offshore support vessels.
The buyer, wholly owned subsidiary LFG Cengal Ltd, acquired the ship from an unrelated vendor incorporated in Japan. The vessel, named LFG Cengal, was built in Japan in May 2013 and is 13-year-old. Its deadweight tonnage is 61,446 tonnes, and it has five holds and five hatches for cargo.
The group said internally generated funds financed the acquisition. It expects the ship’s charter income to support earnings in FY2026, ending Dec 31, 2026, and in subsequent financial years.
Lianson Fleet said regional commodity and bulk cargo trade was supporting robust demand and charter rates for these vessels. Bulk carriers transport dry goods in loose form, including coal, grains and iron ore.
At end-June, cash and bank balances stood at RM219.26 million, while total borrowings were RM318.87 million. The group’s shares finished unchanged at RM1.55, giving it a market capitalisation of RM1.78 billion. The stock was down about 22% for the year to date.
