LFG Unit To Acquire Vessel For US$13.25 Mln
Lianson Fleet Group Acquires Vessel for $13.25 Million
KUALA LUMPUR, Aug 20 (Bernama) — Lianson Fleet Group Bhd (LFG) has announced a significant acquisition, entering into a memorandum of agreement to purchase the MV Moana BAQ for $13.25 million (RM55.95 million). This strategic move aims to diversify the company’s portfolio beyond offshore support vessels and enhance its recurring income through long-term charter opportunities.
Funding and Vessel Details
The acquisition will be financed through a combination of internal funds and bank borrowings. LFG confirmed that it has sufficient internal resources to cover the purchase price if necessary. However, the company is also exploring financing options with lenders to cover up to 70% of the vessel’s cost. This approach is intended to optimize LFG’s capital structure while maintaining financial flexibility.
The MV Moana BAQ is a Panama-flagged Supramax bulk carrier, constructed in 2012. It boasts a deadweight tonnage of 56,625 metric tonnes, a gross tonnage of 32,964, and a net tonnage of 19,142. The acquisition aligns with LFG’s strategic vision to expand its operations and strengthen its asset base in the maritime sector.
Strategic Diversification
LFG’s decision to acquire the MV Moana BAQ reflects its commitment to diversifying its business interests. By venturing into different vessel asset classes, the group aims to bolster its revenue streams and reduce reliance on its traditional offshore support vessel operations. This strategic shift is expected to provide LFG with new opportunities for growth and stability in the competitive maritime industry.
The company’s proactive approach to financing and asset acquisition positions it well for future developments. As LFG continues to explore avenues for expansion, the acquisition of the MV Moana BAQ marks a pivotal step in its journey toward becoming a more diversified and resilient player in the shipping sector.
