Jinhui Shipping Sells Supramax Bulker

Illustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Jinzhou Marine, part of Jinhui Shipping and Transportation Limited, has decided to dispose of a Supramax bulk carrier.

On January 2, Jinzhou Marine signed a memorandum of agreement with Poseidon Global Shipping for the disposal of the 50,209 dwt bulker.

As informed, the ship, Jin Zhou, will be sold for USD 7.38 million.

Jinhui Shipping intends to keep all net sale proceeds received as general working capital of the group.

“The disposal will enable the group to enhance its working capital position and further strengthen its liquidity, and optimize the fleet profile through this ongoing management of asset portfolio,” Jinhui explained.

The Hong Kong-flagged bulker will be delivered to its new owner between February 15 and March 31, 2019, Jinhui Shipping said.

Built in 2001, Jin Zhou has been owned by Jinhui since 2005.

Jinhui Shipping currently owns two Post-Panamaxes and seventeen grabs fitted Supramaxes, including Jin Zhou. Following the disposal, the total capacity of the company’s fleet will be 1.1 million metric tons.

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