Dry CargoGreater China

Jinhui forks out $26m for an ultramax

A week after a fine asset play Jinhui Shipping is back in buying mode.

Splash reported earlier this month on Jinhui’s decision to sell the 2004-built supramax Jin Cheng for $13.9m, pocketing some $6m on the sale.

The Chinese bulker operator is now linked to one more deal, taking a ship from Japan’s Nisshin Shipping. Brokers report Jinhui is paying $26m for the 2014-built ultramax, Hanton Trader II.

VesselsValue lists 26 ships in the Jinhui fleet, with 13 of them bought since 2019, many of which can easily be sold at higher prices given today’s buoyant market conditions.

Jinhui’s last purchase was in December when it added two 10-year-old supramaxes.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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