Lianson Fleet Group Bhd has moved into the dry bulk shipping sector, agreeing to acquire two Ultramax bulk carriers for a total cash consideration of US$52.3 million.
The Malaysian offshore support vessel (OSV) and marine transport provider entered into separate agreements for the vessels, marking a significant strategic shift for the company.
The acquisition represents Lianson’s entry into the Ultramax segment, a popular class of bulk carrier known for its flexibility in accessing a wide range of ports and its efficiency in carrying major dry bulk commodities such as iron ore, coal, and grain.
By adding these vessels to its fleet, the company is diversifying its revenue streams beyond its core OSV business, which is often tied to cyclical offshore energy markets.
This move aligns with a broader trend among regional shipping groups to expand their fleet portfolios through acquisitions rather than newbuilds, allowing for quicker deployment and immediate revenue generation.
The Ultramax segment has seen sustained demand due to its operational versatility, making it an attractive target for companies looking to balance their exposure to different shipping cycles.