Jinhui continues fleet renewal push with ultramax buy
Jinhui Shipping Strengthens Fleet with New Ultramax Vessel Purchase
Jinhui Shipping’s New Vessel Purchase
Jinhui Shipping and Transportation, a leading Chinese shipping company, has taken a big step to upgrade its fleet. The company recently bought a modern ultramax bulk carrier called Great Century. This purchase is part of Jinhui’s ongoing plan to update its fleet with newer, more efficient ships.
Details About the New Ship
The Great Century was built in 2017 by COSCO KHI Ship Engineering. Jinhui bought the vessel from CMB Financial Leasing for $24.52 million. With a capacity of 61,400 deadweight tonnage (dwt), this ship is designed to carry large cargo loads efficiently. This purchase highlights Jinhui’s focus on adding younger, high-performing ships to its fleet.
In November, another shipping company, Amoysailing Maritime, also bought a similar vessel at an auction. This shows how competitive the market is for high-quality ships. By acting quickly, Jinhui has placed itself ahead of the competition, strengthening its position in the shipping industry.
Jinhui’s Fleet Renewal Strategy
Jinhui has been busy replacing older ships with newer ones over the past year. In June, the company ordered ultramax vessels from Jiangsu Hantong Ship Heavy Industry, set for delivery in 2026 and 2027. In July, it purchased a second capesize vessel, continuing the strategy it started earlier this year.
The company’s fleet now includes 33 bulk carriers, with 25 being owned directly. Out of these, six are ultramax vessels, which are known for their large cargo capacity and fuel efficiency. The Great Century is expected to join the fleet by early 2025. To fund this purchase, Jinhui will use bank loans for 70% of the cost, showing smart financial planning.
Why Fleet Expansion Matters
Expanding the fleet is important for Jinhui because it helps the company stay competitive. Newer ships are more fuel-efficient, meaning they use less fuel to move the same amount of cargo. This lowers costs and reduces the impact on the environment. Additionally, modern ships need less maintenance, saving even more money over time.
By investing in both secondhand ships and new builds, Jinhui is making sure its fleet stays up-to-date. This strategy helps the company meet the growing demand for bulk shipping while maintaining high standards of efficiency and reliability.
Future Outlook for Jinhui
Jinhui Shipping’s purchase of the Great Century shows its strong commitment to modernizing its fleet. As the company continues to invest in newer vessels, it is well-prepared to face future challenges and seize new opportunities in the global shipping market.
Conclusion
Jinhui Shipping’s latest acquisition is more than just a purchase—it is a smart move that strengthens the company’s position in the shipping industry. By focusing on fleet renewal and efficiency, Jinhui is setting itself up for long-term success.
