Chinese bulker operator Jinhui Shipping and Transportation has returned to buying mode shortly after disposing of its oldest vessel.
The Oslo- and Hong Kong-listed company has snapped up a 2014-built ultramax Hanton Trader III paying around $20.4m. Brokers reported in June that the 63.800 dwt ship was sold to an unnamed buyer for about $23.5m.
paying around $20.4m. Brokers reported in June that the 63.800 dwt ship was sold to an unnamed buyer for about $23.5m.Jinhui said it purchased the ship, fleet databases link to Japan’s Nisshin Shipping, from UAE-incorporated Vega Maritime, privately owned by Kenneth Fjeld and GV Surajh. Last year, the company picked up Nisshin’s Hanton Trader II, now known as Jin Ping.
The vessel, estimated to be worth $21.4m by online pricing platform VesselsValue, will be delivered on a charter-free basis by November 10, 2023. Jinhui said it would cover about 60% of the deal with bank financing and the rest with cash on hand.
The company recently sold its 2004-built supramax Jin Feng to Singapore’s ETL Shipping for around $8.1m and once both transactions are closed, it will have 24 bulkers in its fleet.
