Uni-Asia (SGX:CHJ) signed an agreement with Nihon Shipyard and its affiliate to acquire a 40,000 deadweight tonnage double hull bulk carrier, according to a Thursday filing with the Singapore Exchange.

The vessel will be constructed by Imbari Shipbuilding, with delivery expected either in the fourth quarter of 2029 or the first half of 2030.

The vessel will be equipped with an eco-type engine optimized for fuel efficiency and reduced emissions.

The acquisition is part of the shipping and property investment company's fleet renewal strategy.