Uni-Asia Holdings Limited announced an update on the progress of the vessel acquisition project of Regina Bulkship S.A., a 51% owned subsidiary under Uni-Asia Shipping Limited, a wholly owned subsidiary of the company.
Regina Bulkship S.A. has acquired a 37,000 dwt newbuilding handysize bulk carrier pursuant to an agreement with Imabari Shipbuilding Co., Ltd. on March 3, 2014. The vessel was successfully delivered on February 9, 2015 by Imabari Shipbuilding Co., Ltd. and was immediately time chartered out to Pacific Basin.
Regina entered into a loan agreement with Mega International Commercial Bank Co., Ltd., Offshore Branch for a term loan facility to be used solely for the purpose of the acquisition of the vessel, under which $17.76 million was drawn down on February 6, 2015 in connection with the delivery of the vessel.
Uni-Asia Shipping has acquired nine vessels to date since its establishment on April 12, 2010. Among nine vessels, seven were delivered including the vessel owned by Regina, and contributing to the group's profit.
With the increase in resources, the company has, through Uni-Asia Shipping, increased its activities in shipowning and chartering, in addition to its existing service coverage which includes ship financing arrangement, ship investment management, ship technical management as well as ship brokerage, with the aim of being an integrated shipping service provider. Uni-Asia Shipping expects further delivery of two remaining vessels between 2015 and 2016.