KUALA LUMPUR (June 29): Lianson Fleet Group Bhd (KL:LFG) plans to dispose of three ageing offshore support vessels (OSVs) this year and acquire two dry bulk vessels as part of its fleet optimisation strategy and push to grow its marine transportation business.
Managing director Lim Chern Wooi told reporters at a briefing after the group's annual general meeting on Monday the three OSVs are aged between 17 and 19 years.
“We hope to dispose of them while there is still value so that we can recycle the capital into better and younger assets," he said, adding that the group is still negotiating on pricing for the two dry bulk vessel acquisitions. The move follows the disposal of six vessels in the financial year ended Dec 31, 2025 (FY2025).
The company ventured into the marine transportation business in 2025.
Lianson Fleet’s marine transportation segment grew strongly, contributing 46.9% of revenue and becoming the largest earnings contributor in 1QFY2026 with RM19.09 million in profit, compared with RM9.19 million from the OSV segment.
The group expects its OSV and marine transportation segments to contribute equally to revenue and profit in FY2026.
The company aims to reduce the average age of its 53-vessel fleet from 15 years to around 10 years over the next two to three years.
On the utilisation rates, the company expects to improve to around 80% in FY2026, compared to 74% in FY2025 and 69% in FY2024.
Lim said the first quarter was affected by the monsoon season and expects fleet utilisation to improve in the second and third quarters.
He expects demand for shipping to remain firm as countries are likely to replenish oil reserves following the war in the Middle East.
Lianson Fleet’s RM780.7 million order book provides earnings visibility for up to seven years.
The company’s shares have fallen 24.5% from their recent peak of RM2.20 in February this year. As at 4.13pm on Monday, Lianson Fleet’s share price was up one sen or 0.61% to RM1.66, giving the company a market capitalisation of RM1.92 billion.