KLSE:LFG

2 stories mentioning KLSE:LFGUpdated 10m ago

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Lianson Fleet Unit to Buy Bulk Carrier

Lianson Fleet Group (KLSE:LFG) unit Lianson Fleet or its affiliate, agreed to acquire vessel MV Sea Affluence from a third-party seller for $15.5 million, according to a Thursday Hong Kong bourse filing.The vessel comprises a Supramax bulk carrier built in 2012 with a deadweight tonnage of 56,735 metric tonnes.The acquisition comes as part of a move by the company to expand its marine transportation fleet and diversify beyond offshore support vessels.

KLSE:LFG

Asia11d ago

Lianson Fleet Unit Forms Vessel Acquisition, Charter Operations JV; Shares Drop 3%

Lianson Fleet Group (KLSE:LFG) unit signed a joint venture deal with partners to establish a Singapore-based special purpose vehicle, Nusantara Orchid, for the acquisition and operation of the vessel MT High Tide, according to a Friday Malaysian bourse filing.Lianson shares slid about 3% in Monday's afternoon trade.Under the structure, Nusantara Orchid will be owned 45% each by Lianson Fleet - a unit of Lianson Fleet, and PSL Energy - the investment holding arm of Precious Shipping Public Company. The remaining 10% will be held by Emstraits Navigation.The joint venture will focus on vessel ownership and charter operations. Lianson Fleet expects the JV to be completed in the third quarter. It will be funded through internal resources.

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