Jinhui Shipping and Transportation Limited through its wholly-owned subsidiary Jinjun Marine Inc. entered into a memorandum of agreement on August 6 for the disposal of a supramax at a consideration of US$10,500,000.
The bulk carrier JIN JUN is a supramax of deadweight 56,887 metric tonnes, built in 2009 and registered in Hong Kong.
The purchaser of the vessel Huwell Global Resources Pte. Ltd. is a company incorporated in Singapore and its principal activities consist primarily of vessel ownership 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 Jinjun Marine Inc. between 1 October 2025 and 15 November 2025.
The company said that the consideration of the vessel was determined by reference to market intelligence.
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, August 6.
The group currently operates a fleet of thirty vessels, of which twenty are owned vessels, two are under sale and leaseback arrangements and eight 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.
