Uni-Asia Group has announced that a special purpose vehicle in which it holds a 65.1 per cent shareholding interest has entered into a conditional agreement to acquire the Trident Star for $18.40 million.
The vessel, a 57,836 DWT bulk carrier built in 2015, is being acquired by the joint venture, Diamond Bulkship, from Polaris Bulkship.
Uni-Asia currently holds an 18 per cent stake in Polaris, which is 82 per cent owned by Uni-Asia's controlling shareholder, Yamasa. The acquisition will increase Uni-Asia's effective interest in the vessel from 18.0 per cent to 65.1 per cent.
The purchase consideration of $18.40 million was based on an independent valuation from Exeno Yamamizu Corporation, which appraised the vessel's open market value at between $18.25 million and $20.25 million as of July 8, 2025.
The joint venture will fund 40 per cent ($7.36 million) of the purchase price through equity contributions from its partners, including Uni-Asia's contribution of $5.31 million. The remaining 60 per cent ($11.04 million) will be financed through a sale and leaseback arrangement with one of the joint venture partners.
Uni-Asia stated the acquisition is a strategic opportunity to bolster its ship-owning portfolio, noting that the company has been operating and managing the vessel since its delivery in 2015.