Singapore-based Uni-Asia Group announced that its joint venture, Emerald Bulkship, signed a conditional agreement to acquire the bulk carrier Uni Harmony from Quest Bulkship for $20.53 million.
Emerald Bulkship is 55.6 per cent owned by Uni-Asia Group through Uni-Asia Shipping, with Nippo Shipping Company, Sea Trade and Transport, Hakuyo Shipping Company and Pan Asian Marine Corporation each holding an 11.1 per cent stake.
Built in 2016 by Japan's Shimanami Shipyard, the 37,655 DWT vessel was valued between $19.95 million and $22.05 million in an April 21, 2026 appraisal by an independent valuer.
The vessel has a gross tonnage of 23,303 and recorded net profits of $0.11 million in 2025, $0.72 million in 2024 and $0.41 million in 2023.
According to the company, the vessel is expected to have an estimated residual operational life of approximately 10 years based on its depreciation accounting.
Following completion of the acquisition, Uni Harmony will be chartered to third-party operators in the ordinary course of business.
The acquisition will be financed through a combination of $8.21 million in equity contributions from the joint venture partners and $12.32 million in debt secured through a bareboat charter arrangement.
The seven-year financing facility will be provided by NCN Corporation, a subsidiary of Nippo Shipping Company, with title to the vessel returning to Emerald Bulkship upon exercise of the purchase option at the end of the financing term.
The transaction remains subject to approval by Uni-Asia Group shareholders at an upcoming meeting. An initial deposit of 10 per cent will be payable within seven banking days after shareholder approval, with the remaining 90 per cent due upon delivery of the vessel.
