Jinhui Shipping subsidiary sells Supramax vessel for $10.3 million

Jinhui Shipping and Transportation Limited announced its wholly-owned subsidiary, Jinsui Marine Inc., agreed to sell a Supramax vessel to Forever Win Shipping Limited for $10,300,000. The 2008-built vessel of 56,968 metric tonnes deadweight is expected to be delivered between December 1, 2025, and February 28, 2026. This disposal aligns with the Group's strategy to optimize its fleet, reduce operational risk, and enhance its working capital and financial position.

The $10.3 million consideration includes an initial deposit, a first installment prior to delivery, and an outstanding balance of $5,000,000 payable in twelve quarterly installments at 7.50% interest per annum. The Company expects a book loss of approximately $0.6 million on the disposal, based on the unaudited net book value of $10,857,000 as of September 30, 2025.

The net sale proceeds will be used for general working capital, including repaying short-term borrowings and settling outstanding creditors. The directors believe this disposal will not materially adversely affect the Group's operations and was concluded on normal commercial terms.