Hong Kong-listed Jinhui Holdings Company announced that two of its indirect subsidiaries had entered into sale and leaseback agreements for two bulk carriers valued at up to $36 million.
Under the agreements, Jinyao Marine and Huafeng Shipping will sell the vessels to Hai Kuo Shipping 1971T and Hai Kuo Shipping 1973T, respectively, before chartering them back for periods of up to 60 months.
The buyers are financial leasing entities owned by ICBC Financial Leasing Company, a subsidiary of Industrial and Commercial Bank of China. Each vessel will be sold for a maximum consideration of $18 million, representing the total financing amount raised by the group for the acquisitions.
The two 64,500 DWT bulk carriers, Jin Yao and Jin Fu, are currently under construction. They were acquired under shipbuilding contracts signed on September 30, 2025.
According to Jinhui, delivery of Jin Yao is expected in February 2028, while Jin Fu is expected in March 2028.
Jinhui Shipping and Transportation, an approximately 55.69 per cent direct subsidiary of the company, has guaranteed the performance obligations of both charterers.
The company stated that the transactions will enable the group to secure financing at a reasonable cost, strengthen its cash position, and retain operational control of the vessels through the leaseback arrangements.
