Shippingtelegraph: Jinhui Shipping offloads supramax to New Unite Marine for $13.2m

Jinhui Shipping and Transportation Limited through its wholly-owned subsidiary Jinmao Marine Inc. entered into a memorandum of agreement on October 28 for the disposal of a supramax at a consideration of US$13.2m.

The bulk carrier JIN MAO is a supramax of deadweight 56,469 metric tonnes, built in 2012 and registered in Hong Kong.

The purchaser of the vessel New Unite Marine Co. Ltd. is a company incorporated in China and its principal activities are international shipping and transportation.

The vessel, which has been owned by the Group since 2022, will be handed over to its new owner by the ship owning company and wholly-owned subsidiary Jinmao Marine Inc. on or before December 10, 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 continuously review the prevailing market conditions of the shipping industry and monitor and adjust the Group’s fleet profile as appropriate. The Disposal of the vessel is in line with the ongoing strategy of the Group to optimize its vessel fleet by maintaining a well-balanced portfolio of the vessel fleet and reduce our operational risk exposures in current volatile markets,” Jinhui said on Tuesday, Oct. 28.

The group currently operates a fleet of twenty-nine vessels, including twenty-one owned vessels and eight chartered-in vessels, with total 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.