Lianson Fleet adds US$23 million bulk carrier to diversify fleet

Lianson Fleet Group Bhd announced the acquisition of a Japanese-built Ultramax bulk carrier, the LFG Cengal, for US$23 million (approximately RM93.9 million). The purchase, completed on Oct 13 via its wholly-owned subsidiary LFG Cengal Ltd, was financed entirely from internally generated funds. The vessel, constructed in May 2013, carries a deadweight of 61,446 tonnes and features five cargo holds and hatches.

Company officials anticipate that chartering the ship will boost earnings for the fiscal year ending Dec 31, 2026, and provide a steadier income stream. They highlighted robust demand and high charter rates for bulk carriers, driven by regional trade flows and longer cargo routes. Managing director Lim Chern Wool said the addition supports the firm’s strategy to diversify and grow within the maritime sector.