Jinhui Shipping and Transportation Limited has formalized the sale of its bulk carrier bulk carrier “Jin Ji”, a 56,913 DWT supramax “Jin Ji”, a 56,913 DWT supramax built in 2009, as part of its fleet renewal and financial optimization strategy.
The deal was signed on July 23, 2025 through a memorandum of agreement between its subsidiary Jinji Marine Inc. and Hong Kong-based buyer Huwell Tanker Spring Limited.
On the sale of the supramax vessel
The transaction, valued at US$11 million, followed an independent valuation by Arrow Valuations that estimated the vessel’s market value at US$10.8 million. The sale aligns with the group’s efforts to capitalize on aging assets, reducing the average age of the fleet and increasing its operational flexibility.
According to the corporate report, the “Jin Ji” had an unaudited net book value of US$12.04 million as of May 31, 2025. With this reference, an accounting loss of close to US$1.1 million is expected, depending on the final delivery value and the costs associated with the disposal process.
Fleet strategy and next steps
With this disposal, Jinhui reinforces its intention to progressively adjust its installed capacity through asset rotation. It currently operates a fleet of 30 vessels, of which 21 are directly owned. The company will continue to explore opportunities to sell older units, replacing them with more efficient and higher capacity vessels.
The capital raised will be used to strengthen the group’s working capital, in line with its goal of maintaining a solid financial position in a volatile bulk transportation market.
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