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 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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