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>

<< Nov 2017 >>
MTWTFSS
30 31 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 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >