Lianson Fleet subsidiary buys bulk carrier for RM93.9 million
The group said the vessel purchase supports fleet expansion and diversification beyond offshore support vessels.
LFG Cengal Ltd, a wholly owned subsidiary of Lianson Fleet Group Bhd (LFG), has bought the bulk carrier LFG Cengal from an unrelated third party for US$23 million (RM93.9 million), paid in cash. The group disclosed the acquisition in a Bursa Malaysia filing on Oct 13.
LFG said the purchase supports its plans to enlarge its marine transportation fleet and diversify beyond its offshore support vessel operations. It expects charter revenue from the vessel to make a positive contribution to earnings for its financial year to Dec 31, 2026, and subsequent years.
The company described LFG Cengal as an Ultramax carrier built in Japan in May 2013. Its deadweight tonnage is 61,446 metric tonnes, while gross and net tonnage are 34,794 tonnes and 20,209 tonnes respectively.
The vessel has an overall length of 199.98 metres, a 32.24-metre beam and a moulded depth measuring 18.60 metres. It has five cargo holds alongside five cargo hatches. LFG said the vessel's potential for long-term chartering and utilisation would support recurring income and improve earnings visibility.
