Jinhui Shipping subsidiary sells Supramax vessel for $14.4m

Jinhui Shipping and Transportation Limited disclosed that its wholly-owned subsidiary, Jinbi Marine Inc., has agreed to sell a Supramax bulk carrier, the "JIN BI," for $14,400,000. The vessel, built in 2012 with a deadweight of 56,361 metric tonnes, will be delivered to the purchaser, Xing Le Investments Limited, between December 15, 2025, and January 30, 2026. The unaudited net book value of the vessel as of October 31, 2025, was approximately $13,218,000, indicating a book gain of about $1.2 million.

The consideration will be paid in three tranches: an initial deposit of $1,440,000, a first installment of $5,960,000 prior to delivery, and an outstanding balance of $7,000,000 in sixteen quarterly installments with interest accruing at 6.90% per annum. Proceeds will be used for general working capital purposes, including repaying short-term borrowings, settling outstanding creditors, and enhancing financial flexibility.

This disposal aligns with Jinhui Shipping’s strategy to optimize its fleet, reduce operational risk, and maintain a competitive, modern fleet profile. The company will continue to monitor market conditions for future opportunities, including potential disposals of older vessels and acquisitions of newer assets.