Jinhui Holdings signed two shipbuilding contracts on February 11 to acquire two bulk carriers for a total of $68 million. These vessels will be constructed by Chinese shipyards Sumec Marine and New Dayang Shipbuilding.
Each vessel carries a contract price of $34 million, which will be paid in five instalments. The group specified that both units are 64,100 DWT bulk carriers.
Delivery of the first vessel is scheduled for May 15, 2029, while the second vessel is expected to be delivered by July 31, 2029.
The company mentioned the acquisition aligns with its strategy to renew the fleet with, "modern, larger and high-quality vessels." Jinhui stated, “The vessels are more fuel-efficient and of higher operational efficiency than the other bulk carriers of the group currently in operation.”
Jinhui Holdings declared that approximately 50 per cent of the total price is expected to be covered by bank financing. The remaining balance will be funded by the internal resources of the company.
The company currently manages 21 vessels with a total carrying capacity of approximately 1.7 million tonnes. This fleet consists of 18 owned vessels and three chartered-in vessels.