Lianson Fleet Group expands dry bulk fleet with Ultramax acquisition
Lianson Fleet Group Berhad (LFG) has acquired a Japanese-built Ultramax bulk carrier for US$23 million, expanding its maritime transportation fleet and strengthening its presence in the dry bulk shipping sector.
The acquisition was completed on 13 October 2026 through LFG Cengal Limited, a wholly owned subsidiary of the Malaysian shipping group. The vessel, named LFG Cengal, was purchased from an unrelated third-party seller incorporated in Japan, with the transaction financed entirely through internally generated funds.
Built in May 2013, LFG Cengal has a deadweight capacity of 61,446 tonnes and measures approximately 200 metres in length. The vessel is equipped with five cargo holds and five cargo hatches, making it suitable for transporting a range of dry bulk commodities.
Acquisition supports fleet diversification
According to LFG, the acquisition forms part of its strategy to expand its marine transportation activities beyond its existing offshore support vessel business.
The company expects the Ultramax carrier to contribute to recurring revenue through potential long-term chartering opportunities, supporting earnings visibility and broader fleet utilisation. However, no specific charter agreement has been disclosed.
LFG said the purchase consideration was determined through negotiations with the seller, taking into account prevailing market valuations, comparable vessel transactions, classification status and the ship’s future earnings potential.
The company also highlighted regional dry bulk trade flows and longer shipping distances resulting from changes in cargo routing as factors supporting its investment decision.
Positive earnings contribution expected
LFG expects the newly acquired vessel to contribute positively to group earnings for the financial year ending 31 December 2026 and subsequent periods through charter income.
The acquisition is not expected to have a material immediate impact on the group’s consolidated net assets, although LFG anticipates potential longer-term benefits from future earnings.
According to the company’s official announcement, the transaction will not affect its gearing or issued share capital, as no new shares were issued and the acquisition was funded using existing resources.
LFG also confirmed that the purchase does not require shareholder approval or approval from relevant government authorities, as it falls within the ordinary course of business.
