Jinhui Holdings Company signed shipbuilding contracts to acquire two dry bulk carriers from Sumec Marine for a total of HK$530 million ($68 million).
The transaction was conducted through two separate indirect subsidiaries, which are each 55.69 per cent owned by the group.
The vessels will be constructed by Chinese yard New Dayang Shipbuilding, with deliveries scheduled on or before May 31, 2030, and June 30, 2030. Each dry bulk carrier has a capacity of 64,100 tonnes and costs $34 million.
To fund the acquisition, Jinhui stated that it expects to cover 55 per cent of the total price through bank financing, while the remainder will come from internal cash resources.
Intermediate subsidiary Jinhui Shipping has also agreed to guarantee the full and punctual payment of the contract prices.
The group explained that the acquisition aligns with its fleet renewal strategy of replacing older vessels with newer, more fuel-efficient carriers. It added that upon delivery, the vessels will be chartered out to third parties to generate recurring freight and hire income.
