LFG Expands Fleet with Two Ultramax Bulk Carrier Acquisitions

LFG is acquiring two Ultramax bulk carriers for RM213.2 million, expanding its fleet to 41 vessels and strengthening its long-term dry bulk shipping and recurring income strategy.

LFG Strengthens Bulk Shipping

Lianson Fleet Group Berhad (LFG) is strengthening its presence in the dry bulk shipping market with the acquisition of two Ultramax bulk carrier vessels worth a combined USD52.3 million (RM213.2 million), marking its first entry into the Ultramax vessel segment.

The company has signed two separate memorandum of agreements to acquire MV Tian Mu Shan and MV Yan Dang Shan. The acquisitions represent a significant milestone in LFG’s strategy to diversify its maritime operations and expand beyond its existing Supramax bulk carrier fleet.

Once the transactions are completed, together with the delivery of a previously announced Supramax vessel scheduled for August, LFG’s marine transportation fleet will increase to 41 vessels. The expanded fleet will consist of 17 barges, 17 tugboats and seven bulk carriers, reinforcing the group’s position as Malaysia’s largest dry bulk maritime asset owner.

The acquisitions are expected to be completed by October 2026, subject to customary conditions.

Managing Director Lim Chern Wooi said the latest purchases reflect the company’s long-term strategy to build a more diversified and resilient maritime business.

He noted that expanding into the Ultramax segment enables LFG to participate in global dry bulk shipping markets driven by different demand cycles from its traditional offshore support vessel operations.

According to Lim, the enlarged fleet is expected to provide stronger recurring income through long-term charter opportunities while improving earnings visibility and business resilience.

The move also broadens LFG’s participation across regional and international maritime markets, supporting its long-term growth ambitions and strengthening its competitive position in the marine transportation industry.