Chinese dry bulk owner Jinhui Shipping and Transportation has added to its fleet with the acquisition of 2001-built supramax bulker Atlantica.
Jinhui has paid $3.95m to Greece’s Alloceans Shipping for the Shanghai Shipyard-built vessel, which has a market value of $3.38m and scrap value of $2.98m according to VesselsValue.
The vessel is scheduled for delivery between July 10 and August 10, and will grow the Jinhui fleet to 19. The company currently owns 16 supramaxes and two post-panamaxes.
Jinhui says it will fund the acquisition by cash, and it expects the vessel to generate a steady stream of income for the group.