Jinhui Holdings sells two supramax bulkers for $21.8m

Hong Kong-based Jinhui Holdings has announced the sale of two 2009-built supramax bulk carriers in separate deals for a combined total of $21.8 million.

As previously reported on Baird Maritime, the first agreement which was signed on July 4, was for the sale of the 56,927-deadweight-tonne supramax bulk carrier Jin Gang, for $10.8 million. The vessel was delivered on July 14. As the vessel is on a time charter until September 2025, the new owner has leased it back to the seller on a bareboat charter for four to six months.

The second agreement was signed on July 23 for the sale of a 56,913-deadweight-tonne supramax bulker for $11 million. Delivery of this vessel is scheduled between July 27 and August 31, 2025.

The group expects to realise a combined book loss of approximately HK$16 million from the two 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.