en.Wedoany.com Reported - Malaysia's Lianson Fleet Group (LFG) has officially entered the larger-tonnage bulk carrier market by acquiring two 2017-built ultramax bulk carriers for $52.32 million.

Wholly-owned subsidiaries of Lianson Fleet Group have signed separate agreements with two unrelated Chinese sellers to acquire the vessels "Tian Mu Shan" and "Yan Dang Shan." These two vessels are the first ultramax bulk carriers purchased by Lianson Fleet Group, marking an upgrade from its existing supramax fleet to a larger tonnage specification.

The acquisition funds are expected to be raised through internal resources and bank loans, with delivery anticipated later this year. Previously, Lianson Fleet Group also announced the acquisition of a supramax bulk carrier, expected to be delivered in August. After all three vessels are added, the group's total fleet size will reach 41 vessels, including 17 barges, 17 tugboats, and 7 bulk carriers.

Lianson Fleet Group stated that purchasing ultramax bulk carriers is part of its plan to expand its shipping business, aiming to increase the asset class of long-term charters with better earnings visibility. Managing Director Lim Chern Wooi noted that the group has been transitioning into a more diversified maritime company over the past few years, moving beyond its traditional offshore support vessel (OSV) business. He indicated that the bulk carrier fleet expansion is a continuation of this strategy, enabling the group to participate in the global dry bulk shipping market, which is supported by demand cycles different from those of its core offshore business.