Lianson Fleet Group (LFG) announced on August 20 that its indirect wholly-owned subsidiary, Kangsar Corporation, has entered into a memorandum of agreement to acquire the 2012-built supramax bulk carrier, Moana Baq, for a cash consideration of $13.25 million.
The Panama-flagged vessel has a deadweight of 56,625 and is equipped with five cargo holds and four 30-tonne cranes. The acquisition is expected to be completed by the end of October 2025, with delivery of the vessel scheduled to take place in China between September 15 and October 31, 2025.
The company stated that the acquisition is in line with its strategy to diversify beyond the offshore support vessel (OSV) sector and strengthen recurring income streams through vessel classes with long-term charter potential. LFG noted that demand and charter rates for supramax bulk carriers remain healthy, supported by regional trade flows of bulk cargo and commodities.
The acquisition will be funded through a combination of internal funds and bank borrowings. The company is in discussions with lenders to finance up to 70 per cent of the vessel’s purchase price to optimise its capital structure.