Jinhui Holdings has agreed to acquire two bulk carriers from Chinese shipbuilder Jiangmen Nanyang Ship Engineering for a combined contract price of $71.4 million.
The transaction was finalised through two indirect subsidiaries, Jinmao Marine and Jinquan Marine, with each 64,500 DWT vessel priced at $35.7 million.
According to a company announcement, deliveries of the first and second vessels are scheduled to take place on or before August 31, 2029, and September 30, 2029, respectively.
Under the contracts, payments will be made in four instalments, with approximately 65 per cent of the total consideration expected by the company to be funded through bank financing and the remainder from internal cash resources.
The shipping group reported that the newbuildings will replace older tonnage as part of its ongoing fleet renewal strategy, before being chartered out to generate recurring revenue in the dry bulk market.
Across its active operations, the company's fleet currently comprises 19 vessels, consisting of 16 owned vessels and three chartered-in units.