Jinhui Shipping’s Sale of Supramax Bulker Falls Through
Jinhui Shipping & Transportation, a Hong Kong-based shipping company listed in Oslo, has experienced a significant setback as the sale of its supramax bulk carrier, Jin Bi, has collapsed. The vessel, built in 2012 and weighing 56,361 deadweight tons (dwt), was slated to be sold to Hong Kong’s Xing Le Investments for $14.4 million. The delivery was scheduled to occur between December 15, 2025, and January 30, 2026. However, the sale agreement was officially canceled on January 23 due to unmet delivery-related conditions.
The cancellation of this sale marks the end of Jinhui’s planned divestments for 2025. According to the company’s filing, the initial deposit of $1.44 million, which was held in escrow, will be returned to the buyer as stipulated in the contract terms. At the end of October, the Jin Bi had an unaudited net book value of approximately $13.2 million. Had the transaction been completed, Jinhui would have realized a gain of about $1.2 million.
Impact on Jinhui’s Fleet Strategy
The failed sale comes on the heels of an active year for Jinhui Shipping, which has been engaged in a strategic reshaping of its fleet. In 2025, the company had plans to sell a total of 11 older supramax vessels, including the Jin Bi, as part of its initiative to modernize its fleet. This strategy reflects Jinhui’s commitment to enhancing operational efficiency and competitiveness in the shipping market.
In addition to divesting older vessels, Jinhui has been expanding its ultramax fleet. The company recently placed an order for four ultramax ships at Jiangmen Nanyang, following two earlier contracts for 63,500 dwt newbuildings at Jiangsu Hantong Ship Heavy Industry. This move indicates Jinhui’s focus on investing in newer, more efficient vessels to meet the evolving demands of the shipping industry.
Despite the cancellation of the Jin Bi sale, Jinhui has stated that this development is not expected to have any material adverse impact on the company’s financial position or operational capabilities. The company remains committed to its long-term strategy of fleet renewal and expansion, positioning itself for future growth in the maritime sector.
