An indirect subsidiary of Jinhui Holdings, Jinbi Marine, has entered into an agreement to sell the Jin Bi, a 56,361 DWT supramax bulk carrier built in 2012. The memorandum of agreement was signed on December 2, 2025, with the purchaser, Xing Le Investments, a Hong Kong-based company.
The 56,361 DWT vessel is scheduled to be delivered to the buyer between December 15, 2025, and January 30, 2026. The total consideration for the vessel is $14.4 million.
An initial deposit of $1.44 million is payable within five banking days, followed by a first instalment of $5.96 million prior to delivery. The remaining balance of $7 million will be payable in sixteen quarterly instalments, accruing interest at 6.9 per cent per annum, secured by a first priority ship mortgage.
The unaudited net book value of the vessel as of October 31, 2025, was approximately HK$103.1 million ($13.2 million). The group expects to realise a book gain of approximately HK$9.1 million on the disposal.
The net sale proceeds will be used for general working capital purposes, including repaying short-term borrowings and settling outstanding payables.
The company stated that the disposal aligns with its strategy to optimise its fleet by maintaining a balanced portfolio and reducing operational risk exposure. Following the sale, the group will operate a fleet of 26 vessels.
