Malaysia’s Lianson Fleet Group (LFG) has announced the acquisition of two ultramax bulk carriers for $52.32m, as the company expands beyond its offshore support vessel business and strengthens its dry bulk shipping operations.
In a stock exchange filing, the Bursa Malaysia-listed LFG said its wholly owned subsidiary Lianson Fleet Pte. Ltd. (LFPL) had signed two separate memorandum of agreements for the acquisition of Tian Mu Shan and Yan Dang Shan for a total cash consideration of US$52.32m with companies incorporated in China, which are unrelated third parties to LFG.
The acquisitions are proposed to be funded, according to LFG, through a combination of internal funds and bank borrowings.
Delivery of Tian Mu Shan is expected between June 11, 2026, and August 11, 2026, while Yan Dang Shan is scheduled for delivery between September 10, 2026, and October 10, 2026.
Both vessels are registered under the Marshall Islands flag and have a deadweight tonnage of around 63,000 tonnes. Specifically, the ship Tian Mu Shan has a deadweight tonnage of 63,437 tonnes while the Yan Dang Shan has a deadweight tonnage of 63,301 tonnes.
LFG said the vessels would be the group’s first pair of ultramax-class bulk carriers, which are larger in size than the group’s current bulk carrier fleet of supramaxes.
“The vessels acquisition is in line with LFG’s strategy to expand its marine transportation fleet and diversify beyond the offshore support vessels business segment.
“The vessels will strengthen the group’s recurring income stream with its long-term charter potential and utilisation, thereby enhancing earnings visibility,” it said.
Lianson Fleet Group added that demand and charter rates for bulk carriers remain robust, supported by regional trade flows of bulk cargo and commodities.
Barring unforeseen circumstances, the company said the vessels acquisition is expected to be completed by October 2026.
