KUALA LUMPUR, Oct 13 (Bernama) -- Lianson Fleet Group Bhd’s (LFG) wholly owned subsidiary, LFG Cengal Ltd, has acquired a bulk carrier, named LFG Cengal, for a total cash consideration of US$23 million (RM93.9 million) from an unrelated third party.
In a filing with Bursa Malaysia today, LFG said LFG Cengal is a Japanese-built Ultramax bulk carrier constructed in May 2013 with a deadweight tonnage of 61,446 metric tonnes, gross tonnage of 34,794 tonnes and net tonnage of 20,209 tonnes.
Measuring 199.98 metres in length overall, with a beam of 32.24 metres and moulded depth of 18.60 metres, LFG Cengal is equipped with five cargo holds and five cargo hatches, it added.
“The acquisition is in line with LFG’s strategy to expand its marine transportation fleet and diversify beyond the offshore support vessel business segment.
“The LFG Cengal will strengthen the group’s recurring income stream through its long-term charter potential and utilisation, thereby enhancing earnings visibility,” it said.
LFG said the acquisition is expected to contribute positively to its earnings for the financial year ending Dec 31, 2026, and beyond, through charter income generated by the vessel.
-- BERNAMA
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