After placing an order for three new ships, Hong Kong, China-based dry bulk shipowner Jinhui Shipping and Transportation Limited is further accelerating the pace of its fleet renewal. The company recently sold another older vessel to maintain a modern fleet portfolio and a flexible financial structure.
On November 24, Jinhui Shipping announced that its indirect subsidiary, Jinsui Marine, had entered into an agreement with Hong Kong Hengsheng Shipping Co., Ltd. to sell its bulk carrier “Jin Sui” (56,968 DWT, built in 2008) for a price of USD 10.3 million. The vessel is expected to be delivered between December 1, 2025, and February 28, 2026.
Jinhui Shipping stated that the vessel sale is in line with the Group’s ongoing strategy to optimize the fleet by maintaining a balanced portfolio and reducing the company’s operational risk exposure in the current volatile market. The company can use the proceeds from the vessel sale to enhance its working capital position and further strengthen its liquidity and overall financial condition.
“To maintain market competitiveness, the Company focuses on enhancing the quality of its fleet and adjusting the fleet composition, particularly seeking to reduce the overall age profile of the Company’s fleet. The Company believes that while maintaining borrowings at a comfortable level, it should be prepared at all times for potential future opportunities to redeploy capital into other more suitable assets. In the future, the Company will continuously monitor the market and its future operations and will seek opportunities to maintain a fairly modern and competitive fleet. It does not rule out the possibility of selling smaller and older vessels in the future and replacing them with newer vessels or chartered-in vessels. The Company will make such decisions on an ad-hoc basis to maintain a high degree of financial flexibility and operational competitiveness.”
Previously, Jinhui Shipping placed an order with Jiangmen Nanyang Ship Engineering Co., Ltd. for three 64,500 DWT Ultramax bulk carriers, with a price of approximately USD 33.05 million per vessel, scheduled for delivery in January, February, and March 2028.
Information shows that Jinhui Shipping currently operates a diversified fleet of 26 bulk carriers, comprising 20 owned vessels and 6 chartered-in vessels, with a total carrying capacity of approximately 2 million deadweight tons. The fleet includes Capesize, Panamax, Supramax, and Ultramax vessel types.
