February 11, Jinhui Holdings announced in its “Announcement on an Extremely Significant Acquisition – Acquisition of Two Vessels” that two wholly-owned subsidiaries have signed contracts with Sumec Marine and its subsidiary New Dayang Shipyard for the construction of two 64,100 DWT bulk carriers. Each vessel is valued at $34 million, totaling $68 million, with delivery scheduled for May 15, 2029, and July 31, 2029.
The two new vessels will comply with the latest environmental regulations, offering improved fuel efficiency and operational performance compared to certain vessels in Jinhui Holdings’ existing fleet. These newbuildings will support Jinhui Holdings’ long-term goal of maintaining a young and modern fleet, thereby enhancing service offerings for clients and meeting the specific requirements of their cargo trades and destinations.
Jinhui Holdings stated that this vessel order aligns with the Group’s ongoing strategy to modernize its fleet with larger, higher-quality vessels while gradually phasing out older vessels and replacing them with newer, younger-aged vessels. Given the current difficulty in acquiring suitable young secondhand vessels at reasonable prices and delivery times, Jinhui Holdings opted for newbuilds.
Currently, Jinhui Holdings operates a fleet of approximately 20 vessels, including 18 owned vessels and 3 chartered vessels, with a total carrying capacity of about 1.7 million deadweight tons. Among these, two owned vessels are financed through sale-and-leaseback arrangements.