The Oslo Stock Exchange-listed dry bulk shipowner Jinhui Shipping & Transportation (Jinhui) through its subsidiary company Jinmei Marine has boosted its fleet with an acquisition of a capesize at a price of $24m.

The company has spent $24m on the 178,021-dwt Ocean Courtesy built in 2008 by Shanghai Waigaoqiao Shipbuilding, it told investors on Tuesday.

The vessel will be delivered to its new owner between September 1 and December 31, 2024.

The ship will be delivered to the group on a free from charter basis.

The group currently operates thirty-three vessels, including twenty-three owned vessels and ten-chartered -in vessels.

Jinhui has brought several vessels as part of the plan to expand and renew its fleet.

The company sealed earlier this year a deal through its subsidiary Jinli Marine for the acquisition of an 81,567 dwt panamax bulk carrier registered in the republic of Panama and Philippines, at a price of $31,1m.

Furthermore, Jinhui sealed this year through its subsidiary Jincheng Marine another agreement for the acquisition of the capesize vessel New Delight, a 181,279 dwt capesize bulk carrier Panama-flagged, at a price of $30.95m.

Recently, Jinhui Marine Inc., a subsidiary of Jinhui Shipping and Transportation Ltd, announced that it has taken a newcastlemax bulk carrier on time charter.