Jinhui sells two bulkers to Grimstad Shipping for $56mJinhui sells two bulkers to Grimstad Shipping for $56m

The 57,982-dwt Jin Yang was sold for $27m and the similar sized Jin Ze was sold for $29m. Both vessels will be delivered to the new owner by March.

“The directors believe that the disposal will enable the group to enhance its working capital position and to strengthen its liquidity, and optimise the fleet size through this ongoing management of asset portfolio,” said Jinhui Holdings, which owns 54.77% in Jinhui Shipping and Transportation.

The net sale proceeds will be used for the repayment of the respective vessel mortgage loans and the balance will be kept as general working capital, it added.

After the sale, Jinhui Holdings will own 30 supramaxes, four panamaxes, one handymax and one handysize.