Chinese bulker owner and operator Jinhui Shipping and Transportation has sealed its third supramax sale this year.
The Oslo- and Hong Kong-listed company is offloading the 2009-built 65,900 dwt Jin Gang to Singapore’s Huwell Shipping for $10.8m.
The Shanghai Shipyard-built unit should change hands by August 15, the operator of 31 vessels said in a filing.
The divestment brings Jinhui’s total cash generation from vessel sales and financial engineering to roughly $60m in 2025. This includes the earlier disposal of two older supramax units and sale-and-leaseback agreements with Chinese financiers covering an ultramax and a kamsarmax.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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