Jingang Marine, a subsidiary of Jinhui Holdings, has signed an agreement to sell a Supramax bulk carrier Supramax type bulk carrier built in 2009. The transaction, valued at $10.8 million, is part of the group’s plan to adjust its fleet to current market conditions.
An agreed sale under market analysis
The buyer, Singapore-based Huwell Shipping, will acquire the vessel between July 7 and August 15, 2025. The price was determined after an independent valuation and negotiations under open market conditions. The bulk carrier, with 56,927 metric tons deadweight, has been part of the group’s fleet since its construction and is currently registered in Hong Kong.
As the vessel remains active under a charter party until September 2025, the parties have also entered into a bareboat charter. This will allow Jingang Marine to maintain its operation for an additional four to six months after delivery.
Financial impact of bulk carrier Supramax
According to Jinhui HoldingsAccording to Jinhui Holdings, the disposal will generate an estimated accounting loss of HK$7 million, without significantly affecting the group’s operations. The company noted that the transaction seeks to optimize the age profile of its fleet, reduce operational risks and strengthen its working capital position.
The group currently manages a fleet of 31 dry bulk carriers. dry bulk carriersof which 24 are owned by the group. This sale is part of its strategy to maintain a modern and financially flexible fleet, evaluating future investment or asset replacement opportunities.
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Source and photo: Jingang Marine
