Jinhui Shipping and Transportation Ltd. has announced that through a wholly-owned subsidiary of the company it has entered into a memorandum of agreement (MOA) on 21 February 2024 for the acquisition of a panamax vessel at a purchase price of US$431 122 450.
The vessel is being purchased from an unnamed vendor based in the Republic of the Marshall Islands whose principle activities feature ship owning and chartering.
The vessel itself is a 2019-built, 81 567 DWT panamax vessel from the Jiangsu Hantong Ship Heavy Industry Co., Ltd. The purchase of the vessel is likely to be funded by bank financing and the remaining will be funded by the internal resources.
Under the MOA the purchase price for the vessel will be payable with an initial deposit of US$3 112 245 within three weeks from the date of the signing of the MOA and the remaining balance of US$28 010 205 will be paid by Juihui on the delivery of the vessel.
Vessel delivery is expected to take place between 1 April 2024 and 15 June 2024.
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