Jinhui Holdings sells third supramax bulker for $10.5m

Hong Kong-based Jinhui Holdings has announced the sale of a third 2009-built supramax bulk carrier, bringing the total for recent disposals to three vessels for a combined price of $32.3 million. 

The latest agreement, signed on August 6, was for the sale of the Jin Jun, a 56,887DWT supramax for $10.5 million. Delivery of this vessel is scheduled between October 1 and November 15, 2025.

This follows two previously announced deals in July. The first was for the Jin Gang, a 56,927DWT supramax vessel which was sold for $10.8 million and delivered on July 14. The second was for the Jin Ji, 56,913DWT supramax vessel sold for $11 million and delivered on July 31.

The group now expects to realize a combined book loss of approximately HK$34 million ($4.33 million) from the three sales. The company's directors stated the disposals are part of a strategy to readjust the fleet profile, lower the average age of its vessels, and enhance working capital.