Lian Beng unit to acquire $6.8m worth of barges and tugs

Lian Beng Group says wholly-owned subsidiary Millennium Marine & Shipping (MMS) has agreed to acquire $6.76 million in barges and tugs.

This includes one flat top deck cargo barge for $900,000 from Hathaway Marine, the building of two flat top deck cargo barges worth $2.92 million by ASL Shipyard, and the acquisition of three tug boats for $2.94 million from Kemudi Santun Sdn Bhd.

Lian Beng says it need its own cargo barges and tug boats to transport raw materials such as sands and granites from overseas to Singapore to enable the manufacture of concrete.

The acquisitions will eliminate the need for a third-party logistics provider to transport the raw materials.

“It will improve the efficiency in the procurement of raw material for the manufacturing of concrete in terms of costs and time,” says Lian Beng.