Two indirect wholly-owned subsidiaries of Malaysia’s Lianson Fleet Group (LFG) have entered into separate agreements to acquire two 2012-built supramax bulk carriers from South Korean shipping company HMM.
The total cash consideration for the two vessels, the MV Pacific Ace and MV Pacific Pride, is $27.475 million.
The two Korean-flagged sister ships each have a deadweight of approximately 59,950 tonnes. The acquisitions are expected to be completed by the end of October 2025, with delivery of the vessels to take place between September 25 and October 25.
The company stated that the acquisitions are 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.
The purchase will be funded through a combination of internal funds and bank borrowings. The company said it is in discussions with lenders to finance up to 70 per cent of the consideration to optimise its capital structure and preserve financial flexibility.
It added that the acquisitions are expected to contribute positively to the group's earnings for the financial year ending December 31, 2025, and beyond.