Malaysia's Lianson Fleet Group (LFG), formerly known as Icon Offshore, has announced its expansion into the larger bulk carrier sector. The company, listed on Bursa Malaysia, has acquired two ultramax vessels, the Tian Mu Shan and Yan Dang Shan, both built in 2017, for a total of $52.32 million. These acquisitions were made through separate agreements with Chinese sellers.
For freight forwarders and operations managers, this development signifies a potential increase in available capacity for dry bulk cargo on specific routes where Lianson Fleet Group operates. While the immediate impact on spot rates is likely minimal given the scale, a growing fleet in this segment could contribute to overall market stability or increased competition over time, particularly for commodities typically moved by ultramaxes.
