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Lianson Fleet to Buy Ultramax Bulk Carriers for $52 Million

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Lianson Fleet (KLSE:LFG) unit Lianson Fleet agreed to acquire two Ultramax-class bulk carriers for $52.3 million, according to a Thursday Taiwan Exchange policy.

The vessels, MV Tian Mu Shan and MV Yan Dang Shan, are being acquired from unrelated Chinese sellers.

The company will fund the purchase through a combination of internal funds and bank borrowings.

The acquisitions are expected to be completed by October and are in line with the company's fleet expansion strategy.

The company said the vessels will be its first Ultramax-class bulk carriers, expanding its marine transportation business beyond offshore support vessels.

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