Lianson Fleet Group continues to expand its maritime operations with the purchase of a new Ultra Max vessel. The company has recently acquired an Ultra Max cargo ship weighing 61,446 tons from a Japanese seller, paying $23 million for the vessel.
Details of the New Ship Purchase
The ship will soon be named, and its purchase has been fully financed through internal resources. Lianson Fleet Group has stated that this acquisition will not affect the group's debt ratio. With this purchase, the total announced expenses of the group for acquiring Ultra Max vessels have increased to approximately $75.3 million in less than the last three months.
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Expansion of Maritime Activities
Lianson Fleet Group, which is listed on the Malaysian stock exchange, is shifting its focus from marine support vessels to the cargo ship market. The group also agreed in June to purchase another Super Max vessel weighing 56,735 tons for $15.5 million. The total expenses of the group for acquiring cargo ships have reached approximately $90.8 million since June.
Lianson Fleet's CEO, Lim Cherng Wei, emphasized that the Ultra Max segment provides good long-term opportunities for the group, and thus, the group is seeking greater diversification in its maritime activities. Currently, the company owns and operates 12 marine support vessels and 41 maritime transport assets, including cargo ships, tugboats, and barges.
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