Chinese dry bulk owner Jinhui Shipping and Transportation has announced the sale of -built supramax Jin Zhou for $7.38m.
The vessel was sold to Singapore ship brokering and ship management company Poseidon Global Shipping, and continues a run of vessel sales completed by Jinhui since 2016. The Chinese company sold three supramaxes in a three week period last year, and offloaded four supramaxes in an en bloc deal in February 2017. In between it sold a hanydsize and in 2016 was actively selling vessels also.
The sale price of the Jin Zhou at $7.38m is slightly higher then the MSI fair market value of $7.1m placed on the bulker. Jinhui says it will realise a book gain of around $1.2 million on the sale.