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Jinhui Holdings Company sells supramax

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Dry Bulk,

A subsidiary of Hong-Kong-based shipping company Jinhui Holdings Company Ltd has entered into an agreement with a company incorporated in the People’s Republic of China for the disposal of a 2001-built supramax dry bulk vessel weighing 50 777 DWT.

Under the agreement, the vessel is to be sold for US$8 350 000 (approximately HK$65 130 000. The vessel is expected to be delivered by the vendor to the purchaser between 17 July 2018 and 10 August 2018. According to Jinhui Holdings Company, the vessel is being disposed to help enable the Group to strengthen its working capital position and further enhance its liquidity and optimise its fleet profile through the continuous management of its asset portfolio.

Prior to the completion of this disposal, the Group’s fleet consists of two modern post-panamaxes and 21 modern grabs fitted supramaxes including the vessel. After the disposal of the said supramax, the fleet’s carrying capacity will stand at 1 291 125 DWT.

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