On June 3, Jinhui Holdings Co. Ltd. issued an announcement titled “Very Major Acquisition—Acquisition of Two Vessels,” stating that on June 3, the company, acting on behalf of two indirect subsidiaries (the First Purchaser and the Second Purchaser) in which it holds approximately 55.69% equity, signed a construction contract with Jiangmen Nanyang Shipbuilding for two 64,500 DWT bulk carriers. The construction cost per vessel is $34.15 million, with a total value of $68.3 million for the two vessels, which are expected to be delivered by December 31, 2030.
Jinhui Holdings stated that the Group’s core business involves international ship leasing and ship ownership. The order for two new vessels aligns with the Group’s ongoing strategy to renew its fleet with modern, larger, and high-quality vessels, while gradually phasing out older vessels and replacing them with newer, younger ones. The new vessels feature high fuel and operational efficiency, comply with the latest environmental regulations and current standards in the shipping industry, and will support the Group’s long-term goal of maintaining a young and modern fleet.
With the addition of the two newly contracted vessels, Jinhui Holdings has now ordered six 64,500 DWT bulk carriers from Jiangmen Nanyang Shipbuilding. The two parties previously signed contracts for a total of four 64,500 DWT bulk carriers in September 2025 (three vessels) and December 2025 (one vessel), with unit prices of $33.05 million and $33.45 million, respectively. All vessels are expected to be delivered by the fourth quarter of 2028. The total value of the six new vessels is approximately $200 million.
Jiangmen Nanyang Shipbuilding has announced 24 newbuilds for 2026, all of which are bulk carriers. The shipowners include Suisse-Atlantique of Switzerland, Pacific Basin Shipping, and Jinhui Group. It is worth noting that in May, Jiangmen Nanyang Shipbuilding announced 15 Handysize bulk carriers with a deadweight tonnage of 40,500 each in a single batch, with a total construction cost of nearly $450 million; the shipowners remain unknown.
Records indicate that Jiangmen Nanyang Shipbuilding was established in early 2005. Located on the shores of Yinzhou Lake in Xinhui District, Jiangmen City, Guangdong Province, the company operates two shipyard sites covering a total area of 915 mu, with a combined workshop area of 140,000 square meters. It is capable of building vessels up to 100,000 tons, with an annual production capacity of 1.6 million deadweight tons. Specializing in the construction of handysize bulk carriers, the company has delivered approximately 170 vessels to date.