Lianson Fleet sells vessel for RM93mil to MAG Offshore

PETALING JAYA: Lianson Fleet Group Bhd (LFG), via its indirect wholly-owned subsidiary Icon Biru 1 (L) Inc, is disposing of a vessel to MAG Offshore Investments LLC for RM92.57mil.

In a filing with Bursa Malaysia, the marine logistics service provider (formerly known as Icon Offshore Bhd) said the vessel is a “Malaysian-flagged DP-2 accommodation workboat built in 2013 with a deadweight tonnage of 3,500 tonnes and a maximum accommodation of 200 pax.”

“The vessel disposal is part of LFG’s ongoing fleet rejuvenation efforts to modernise and replace its fleet in line with the evolving market demands of the oil and gas industry.

“This also aligns with LFG’s rebranding and long-term strategy to diversify from being a pure-play offshore support vessel player into other vessel asset classes, supporting our pivot towards new markets and strengthening our long-term growth and operational flexibility.”

LFG said the net proceeds from the vessel disposal will partially be utilised towards early prepayment of an existing financing facility, as well as for general corporate purposes and to support the company’s future growth and strategic initiatives.