Dry CargoGreater ChinaMiddle East

Jinhui Shipping offloads supramax to Al Khalejia Aggregates

Jinhui Shipping and Transportation Limited has confirmed the sale of 2000-built supramax Jin An to UAE-based Al Khalejia Aggregates for $3.4m.

Delivery of the 50,786dwt vessel is scheduled for between July 15 and and August 31, with Jinhui expecting to book in a loss of around $4m on the sale.

Jinhui cited the prevailing market conditions as the reason for the sale, which will help enhance its working capital position and strengthen liquidity. Last month the company revealed it had initiated restructuring arrangement discussions with lenders, with an update due this month.

The Hong Kong-headquartered company owns a fleet of over 30 bulkers, mostly supramaxes.


Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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