Jinhui Shipping, a Hong Kong-listed shipowner, is making significant strides in expanding its fleet, marking a return to the newbuild market after several years.
On June 28th, Jinhui Group announced that its wholly-owned subsidiaries, Jinhan Marine Inc. and Jinming Marine Inc., acting as the first and second buyers respectively, have signed shipbuilding contracts with Jiangsu Hantong Ship Heavy Industry. The contracts are for the construction of two 63,500 DWT bulk carriers.
Each new vessel will cost approximately USD 34 million, with a total value of around USD 68 million (approximately RMB 694 million). The first vessel is expected to be delivered in December 2026, and the second in November 2027. Jinhui Group stated that its primary business is international ship leasing and ownership. Ordering these two new vessels aligns with the Group's ongoing strategy to modernize its fleet with larger, higher-quality ships and gradually replace older vessels with newer, more efficient ones. The board believes that by improving its fleet, the Group can enhance its competitiveness in the maritime shipping industry and meet market demand for its shipping services. Upon delivery, these two vessels will be leased to third-party companies for the transportation of bulk dry cargo, generating regular freight and charter income for the Group.
Jinhui Group sees this as the optimal time to further expand its fleet to boost the Group's revenue.
Currently, the Group operates 33 vessels, including 23 owned and 10 chartered-in vessels, with a total carrying capacity of approximately 2.024 million tons. Compared to the Group's other bulk carriers, the newly built ships will offer better fuel efficiency and operational efficiency, complying with the latest environmental regulations and industry standards.
By continuously enhancing its fleet, Jinhui Shipping aims to increase its market presence and operational capabilities, ensuring it remains competitive in the global shipping market.
By Xinde Marine News Chen Yang
By Xinde Marine News Chen Yang
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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