Chinese bulker operator Jinhui Shipping and Transportation has sold another veteran supramax as it eyes younger tonnage.
The Oslo- and Hong Kong-listed firm has offloaded the 52,050 dwt Jin Sheng to Uniglory Shipping for about $10.4m. The 2006 IHI-built ship which Jinhui purchased for $40.4m in 2006, is expected to change hands by January 25, 2024.
The company said that based on the vessel’s unaudited net book value of $11.9m, it would realise a loss of around $1.5m from the sale. Online pricing portal VesselsValue estimated the Hong Kong-flagged ship as worth around $11.2m.
Jinhui has made several transactions lately aimed at clearing out older vessels, whilst bringing in younger replacements. In September, Jinhui sold its 2004-built supramax Jin Feng to Singapore’s ETL Shipping for around $8.1m but also snapped up a 2014-built ultramax Hanton Trader III for $20.4m. The company also recently sold the 2006-built Jin Quan for $9.6m and chartered in the 2021-built kamsarmax for two years in a deal worth around $8.5m.
