Jinhui Holdings to sell 2008-built supramax bulker for $11.93m

A subsidiary of Hong Kong-based Jinhui Holdings has entered into an agreement to sell the 2008-built supramax bulk carrier Jin Rong for a consideration of $11,930,000. The agreement with the purchaser, Liuliu Shun Shipping, was signed on September 4, 2025.

The vessel, which has a deadweight of 58,729 tonnes, is scheduled to be delivered to its new owner between September 15 and October 15, 2025. The group expects to realise a book loss of approximately HK$2.4 million ($307,644) from the disposal.

The payment for the vessel will be made in stages, with an initial deposit of $1.19 million, a second instalment of $4.74 million prior to delivery, and the outstanding balance of $6 million to be paid in twelve equal quarterly instalments. The outstanding amount will accrue interest at a rate of 7.5 per cent per annum. To secure the payments, Jinhui noted that the purchaser will create a first-priority ship mortgage in favour of the vendor.

The company stated that the disposal represents an opportunity to readjust its fleet profile, lower the average age of its vessels, and enhance its working capital position. The net sale proceeds will be used to repay short-term borrowings, settle payables, and improve the company's financial flexibility.