Jinhui Holdings Company Limited (Jinhui Shipping),a long-established shipping investment holding company in Hong Kong, China, announced on September 30 that its three indirect subsidiaries, as buyers, had signed three shipbuilding contracts with the seller, Jiangmen Nanyang Ship Engineering, for three 64,500 DWT bulk carriers.
The contract price for each vessel was US$33,050,000 (approximately HK$257,790,000), for a total of US$99,150,000 (approximately HK$773,370,000), payable in US dollar cash. 70% of the payment is expected to be financed by bank financing, with the remainder funded from the group’s internal resources. The three vessels will be delivered by January 31, February 29, and March 31, 2028, respectively.
The contract is payable in four installments and includes a refund guarantee to protect the buyer’s rights. If delivery is delayed for more than 210 days, commencing 31 days after the agreed date, the buyer may terminate the contract and the seller must refund all payments plus interest. The construction process is supervised by an independent classification surveyor and the buyer’s inspector to ensure compliance with standards.
All three contracts are independent transactions, negotiated under the same terms and conditions, and are subject to shareholder approval by ordinary resolution at a general meeting. Jinhui Shipping will provide guarantees for all three contracts to ensure timely payment of the contract price. The acquisition is in line with the Group’s strategy to renew its fleet, improve fuel and operational efficiency, and enhance its modernization and environmental compliance capabilities.
The transaction constitutes a very substantial acquisition under the Listing Rules and is subject to notification, announcement, circular, and shareholder approval requirements. The circular is expected to be despatched to shareholders on or before October 23, 2025. The Board considers the terms to be fair and reasonable and in the interests of the Company and its shareholders as a whole.
Jinhui Shipping is a long-established shipping investment holding company based in Hong Kong, China. Its core business involves the chartering and operation of dry bulk carriers, with a fleet comprising multiple vessel types including Capesize vessels. The total carrying capacity of its fleet is approximately 2.2 million deadweight tons. The company is listed on both the Hong Kong and Norwegian stock exchanges.