Jinhui Holdings announced that its subsidiary entered into an agreement to dispose of a bulk carrier for $24 million. The vessel, Jin Rui, is scheduled for delivery to the purchaser, Huaya Maritime Corporation, between July 15 and August 17, 2026.
Built in 2014, the vessel has a deadweight tonnage of 63,435 and was acquired by the group in 2023.
Jinhui Holdings said the sale price was determined through market intelligence and an independent valuation that appraised the ship at $23.5 million on March 19.
The vessel’s net book value was approximately HK$149.4 million ($19.2 million) as at January 31, 2026. For the financial year ended December 31, 2025, the ship-owning subsidiary recorded a profit of HK$10.7 million.
This followed a profit of HK$19.1 million for the 2024 financial year. The company said it is focused on, "optimising its vessel fleet by maintaining a well-balanced portfolio of the vessel fleet and reduce our operational risk exposures in current volatile markets."
The board said a circular containing further information is expected to be issued to shareholders on or before April 15, 2026. Net proceeds will be used for general working capital and the repayment of short-term borrowings.
The group currently operates a fleet of 21 vessels with a total deadweight carrying capacity of approximately 1.7 million tonnes.