Canadian dry bulk shipping company Fednav has signed a letter of intent with Japan's Oshima Shipbuilding for the construction of four new 35,000 dwt laker-type handysize bulk carriers. The vessels are expected to be delivered by mid-2029. This move underscores Fednav's commitment to modernizing its fleet with fuel-efficient ships tailored for the Great Lakes and St. Lawrence Seaway trades. The deal, announced by President and CEO Paul Pathy, expands Fednav's orderbook and reinforces its longstanding relationship with Japanese shipbuilders. With this agreement, Fednav's forward orderbook now totals 11 ships in the handysize and ultramax segments, supporting its ongoing fleet renewal strategy.