PETALING JAYA: Lianson Fleet Group Bhd and its partners have proposed to participate in medium-range tanker ownership through a new joint venture (JV) that will acquire the vessel called MT High Tide.
In a Bursa filing, Lianson noted its unit, Lianson Fleet Pte Ltd, has entered into a JV agreement with PSL Energy Pte Ltd and Emstraits Navigation Sdn Bhd to establish Nusantara Orchid Pte Ltd (NOPL) in Singapore as a special purpose company for the vessel acquisition.
Under the arrangement, Lianson Fleet and PSL Energy will each hold a 45% stake in NOPL, while Emstraits Navigation will own the remaining 10%.
The JV will have an initial total issued and paid-up capital at US$50,000, with Lianson Fleet funding its portion of the investment with internally generated funds.
Lianson said the venture would allow the group to participate in medium-range tanker ownership alongside experienced partners with established track records in international vessel acquisition, commercial deployment and technical management.
It added the proposed JV is expected to be completed in the third quarter of 2026, barring unforeseen circumstances.
