Jinhui Sells Four Supramax Bulkers

Image for illustrative purposes. Source: Jinhui

China’s Jinhui Shipping and Transportation Limited has agreed to sell four Supramax bulk carriers to four entities controlled by compatriot Minyi (Tianjin) Ship Leasing for an aggregate price of USD 48 million.

The four Hong Kong-registered Supramaxes were built from 2009 to 2011, with deadweights ranging from 54,768 to 57,352 metric tons.

The bulkers will be delivered to their respective owners by the end of April 2017, Jinhui said.

Following the sale of the four bulkers, Jinhui now owns a fleet of two Post-Panamaxes, twenty-one Supramaxes, and one Handysize.

The company will use the proceeds from the sale for the repayment of vessel mortgage loans and as general working capital.

The dry bulk owner and operator decided to sell the four vessels to enhance its working capital and strengthen its liquidity ahead of expected volatility in the market due to continued uncertainty with respect to the global economic outlook, particularly the freight market.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

CWC World LNG & Gas Series: Americas Summit

Now in its 15th year, the CWC World LNG & Gas Series: Americas Summit is the longest running LNG event in the Americas region.

Bringing together the key players in the LNG & gas value chain in both the Americas region and globally, this is the perfect place to make new contacts, do deals and get essential updates on the market.

This year we return to Houston, TX once again on 20-23 June 2017 – the heart of the energy industry, making it easier than ever to access they key players in your business.

More info

read more >

Nor-Shipping 2017

Nor-Shipping is the leading maritime event week. Their top-quality exhibition, high-level conferences and prime networking opportunities…

read more >

2ND ANNUAL PORTS AND TERMINALS INSURANCE SEMINAR

DETAILED GUIDANCE ON HOW THE INSURANCE MARKET IS CHANGING, HOW RISKS ARE ASSESSED AND WHAT…

read more >

2ND ANNUAL ADVANCED CHARTERING MASTERCLASS

The Advanced Chartering Masterclass will focus on the particularly difficult issues in charterparty agreements and our experts will help you find solutions…

read more >