Jinhui Shipping & Transportation through its subsidiary Jinquan Marine has sealed a memorandum of agreement for the disposal of a supramax at a consideration of $9.65m.
The vessel Jin Quan, a supramax bulk carrier, will be handed over to its new owner between 11 December 2023 and 10 January 2024.
Jinhui Shipping & Transportation offloaded the vessel to Hong Kong-incorporated King Lucky Ocean Limited, a company with principal activities in shipping and chartering.
The ship sold is a supramax of deadweight 52,525 metric tons, built in the year 2006, and registered in Hong Kong.
The supramax has been owned by the Group since 2021, and now the company expects a book gain of approximately $0.6m on the disposal of the vessel.
The company decided to offload the ship as it believes that this move will enable the Group to enhance its working capital position, strengthen its liquidity and optimize the fleet profile through this ongoing management of asset portfolio.
The Group currently owns twenty four modern grabs fitted supramaxes including the vessel mentioned, with existing carrying capacity of 1,383,971 metric tonnes.
Earlier this year, the company sold another supramax of 52,686 metric tonnes which was already delivered to its new owner in mid-November 2023.
