Jinhui Shipping sells another bulker

Jinhui Shipping sells another bulker

Jinhui Shipping and Transportation has entered into an agreement with Marshall Islands-registered AIGAION Shipholding, a company controlled by Fundafor Compania Naviera, for the disposal of a panamax bulker.

The selling price of the 75,008dwt Jin Chao is $12.8m and the vessel will be delivered between October 17 and November 30.

Jinhui Shipping said it would realize a total book loss of $9m from the disposal of the vessel.

The company intends to use the proceeds from the sale for the repayment of vessel mortgage loan and as general working capital.

In September, Jinhui Shipping sold two supramax vessels to companies controlled by the UK’s Tufton Oceanic, and one handmax bulker to Gelico Shipping.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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