OSLO, NORWAY: The Board of Jinhui Shipping and Transportation Limited introduced that a wholly-owned subsidiary of the corporate entered right into a memorandum of settlement on eight March 2022 for the disposal of a Supramax at a consideration of $13.9 million.
The vessel will be delivered to the purchaser or its nominee between 15 March 2022 and eight April 2022.
The Directors of Jinhui Shipping and Transportation continuously review the prevailing market conditions of the shipping industry and monitor and adjust the Group’s fleet profile as appropriate.
Directors believe that the disposal will allow the Group to improve its working capital place and additional strengthen its liquidity, and optimize the fleet profile through this ongoing administration of asset portfolio.
The principal exercise of the corporate is funding holding and the principal actions of its subsidiaries are worldwide ship chartering and ship owning. The vendor is a ship proudly owning firm and a wholly-owned subsidiary of Jinhui Shipping and Transportation Limited.
The purchaser is an organization incorporated in Hong Kong and its principal actions are shipping operations and ship chartering.
The vessel is a Supramax of deadweight 53,806 metric tons, constructed in year 2004 and registered in Hong Kong.
The vessel has been owned by the Group since March 2021, and its unaudited net book worth as at 31 January 2022 was roughly $7.682 million.
The unaudited net revenue each earlier than and after taxation and extraordinary items attributable to the seller for the monetary year ended 31 December 2021 was roughly $2.544 million.
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