Jinhui Shipping & Transportation through its subsidiary Jinsheng Marine has sealed a memorandum of agreement for the disposal of a supramax at a consideration of $10.43m.
The vessel Jin Sheng, a supramax bulk carrier, will be handed over to its new owner between 25 December 2023 and 25 January 2024.
Jinhui Shipping & Transportation offloaded the vessel to Uniglory Shipping, a company incorporated in the Republic of Marshall Islands, with principal activities in ship operating and chartering.
The ship sold is a supramax of deadweight 52,050 metric tons, built in the year 2006, and registered in Hong Kong.
The supramax has been owned by the Group since 2006, and now the company said that based on the vessel’s unaudited net book value of $11,931,000, it would realise a loss of around $1.5m from 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 operates twenty-five vessels, of which twenty four are owned vessels and one is a chartered-in vessel.
The company in order to renew its fleet, it has sealed contracts for the disposal of two supramax vessels, including the vessel, Jin Sheng. After the sale of the ships, the company´s fleet will consist of twenty-four vessels.
Earlier this year, the company sold another supramax of 52,525 metric tons, built in the year 2006, 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.