Jinhui Shipping subsidiary sells Supramax vessel for $11.93m

Jinhui Shipping and Transportation Limited's wholly-owned subsidiary, Jinrong Marine Inc., has agreed to dispose of a Supramax vessel for $11,930,000. The 58,729 deadweight metric tonne bulk carrier, built in 2008 and registered in Hong Kong, will be delivered to Liuliu Shun Shipping Co., Limited between September 15, 2025, and October 15, 2025.

The payment structure includes an initial deposit of $1,193,000, a first installment of $4,737,000 before delivery, and the remaining $6,000,000 in twelve quarterly installments of $500,000 each, accruing interest at 7.50% per annum. The company expects a book loss of approximately $0.3 million on the disposal, based on the unaudited net book value of $12,223,000 as of June 30, 2025.

Proceeds will be used for general working capital, including repaying short-term borrowings, settling outstanding creditors, and strengthening the company’s liquidity. This disposal aligns with Jinhui Shipping’s strategy to readjust its fleet, reduce operational risks, and enhance financial flexibility.