Jinhui Shipping Sells Second Supramax This Year
Jinhui Shipping and Transportation, a prominent Chinese bulker owner and operator, has announced the sale of its second supramax vessel in 2023. The company confirmed the transaction of the 2008-built Jin Tong to Famous Shine Development, a Marshall Islands-based firm, for $10.22 million. This follows an earlier report indicating a sale price of $10.5 million to Chinese buyers.
Strategic Fleet Renewal Efforts
Jinhui Shipping has been actively engaged in renewing its fleet, focusing on both secondhand acquisitions and newbuilding orders. This strategic shift comes after the company sold off several of its older supramax vessels throughout 2023. Earlier this year, in March, Jinhui completed its first sale in over a year, parting with the 2007-built supramax Jin Shun for $8.26 million to Hong Kong’s Yuhe Shipping.
Brazilian iron ore export volumes increased in August, leading to a boost in Capesize tonne days
Currently, Jinhui’s fleet comprises 32 bulk carriers, with 25 of these vessels owned by the company. The recent sales reflect Jinhui’s commitment to modernizing its operations and enhancing its competitive edge in the shipping industry. As the company continues to navigate the evolving market landscape, these transactions are pivotal in positioning Jinhui for future growth and sustainability.
