KUALA LUMPUR (June 18): Lianson Fleet Group Bhd (KL:LFG) is acquiring a 14-year-old Supramax bulk carrier for US$15.5 million (RM60.9 million) as part of its plan to expand its marine transportation fleet and diversify its revenue base.

In a filing with Bursa Malaysia on Thursday, the offshore support vessel operator said its wholly owned subsidiary, Lianson Fleet Pte Ltd, has entered into a memorandum of agreement to acquire MV Sea Affluence from an unrelated Singapore-incorporated seller.

The vessel, built in 2012 and registered under the Singapore flag, has a deadweight tonnage of 56,735 tonnes and is equipped with five cargo holds, five hatches and four 30-tonne cranes.

Delivery of the vessel is expected between July 25 and Aug 31 in Brazil.

LFG said the acquisition will be funded through a combination of internal funds and bank borrowings.

The group said the acquisition is expected to strengthen its recurring income stream through the vessel's long-term charter potential and utilisation, while enhancing earnings visibility.

LFG noted that demand and charter rates for Supramax bulk carriers remain healthy, supported by regional trade flows of bulk cargo and commodities, as well as longer shipping routes arising from trade dislocations, canal constraints and regional supply-demand imbalances.

"The vessel acquisition is expected to strengthen the group's earnings visibility by taking advantage of strong current charter rates and high utilisation rates of similar assets," it said.

LFG shares fell one sen or 0.6% to close at RM1.63 on Thursday, giving the group a market capitalisation of RM1.93 billion.