Jinhui Shipping confirms supramax sale

Jinhui Shipping confirms supramax sale

Jinhui Shipping and Transportation has confirmed it has entered into a memorandum of agreement to sell another supramax bulk carrier, Jin Rong (50,236 dwt, built 2000) for $3.4m.

The Oslo-listed shipping company said the sale will incur a $4m book loss.

Earlier this month, Jinhui sold its supramax Jin An (50,800 dwt, built 2000) to the UAE’s Al Khalejia Aggregates for $3.4m.

The Japan-built bulker achieved a higher price than its sistership Jin Hui (50,800 dwt, built 2000), which was sold by Jinhui in late March for $2.9m to an undisclosed buyer. In its first-quarter results, Jinhui said the sale incurred a $4.5m loss on disposal.

Following the sale of these vessels, Jinhui’s owned fleet will consist of two post-panamax bulk carriers, two panamaxes, 27 supramaxes, one handymax and one handysize.

Jinhui, which is also listed in Hong Kong, is undergoing restructuring with its creditors.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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