Jinhui Shipping reschedules loans

Jinhui Shipping reschedules loans

Jinhui Shipping and Transportation has announced that it, and 25 wholly-owned subsidiaries, has reached agreements with four major lenders to reschedule vessel mortgage loans.

Under the agreement, the parties agreed that the borrowers shall pay 50% of each repayment installment during the forbearance period until December 31, 2018, with early restructuring exit option and the remaining 50% of each such installment be deferred and repaid within two business days after the end of the forbearance period in 2019.

“This would maximize our liquidity position and relax our debt obligations during these extraordinary challenging times,” Jinhui Shipping said in a release.

The group’s unaudited vessel mortgage loans as of September 30, 2016 were $264.2m.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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1 Comment

  1. ha1ry
    December 31, 2016 at 5:25 pm

    kicking can down the road!