Jinhui Shipping and Transportation Limited through its wholly-owned subsidiary Jinji Marine Inc. entered into a memorandum of agreement on July 23 for the disposal of a supramax at a consideration of US$11,000,000.
The bulk carrier JIN JI is a supramax of deadweight 56,913 metric tonnes, built in 2009, and registered in Hong Kong.
The purchaser of the vessel Huwell Tanker Spring Limited is a company incorporated in Hong Kong and its principal activities are vessel owning and chartering.
The vessel which has been owned by the Group since 2009 will be handed over to its new owner by the ship owning company Jinji Marine Inc. between 27 July 2025 and 31 August 2025.
The company said that the consideration of the vessel will be payable by the purchaser by cash.
The company decided to offload the ship as it believes that this move will enable the Group to enhance its working capital position and further strengthen its liquidity and overall financial position. “The directors consider that the disposal represents an opportunity for the Group to readjust its fleet profile and reduce our operational risk exposures in current high-risk volatile markets,” Jinhui said on Wednesday, July 23.
The group currently operates a fleet of thirty vessels, of which twenty one are owned vessels, two are under sale and leaseback arrangements and seven are chartered-in vessels, with total deadweight carrying capacity of approximately 2.2 million metric tonnes.
Jinhui operates a diversified fleet of dry bulk vessels, comprising capesize, panamax, ultramax, and supramax bulk carriers.
