JINHUI HOLDINGS (00137) Subsidiary Sells a Vessel for $24 Million

Stock News

Mar 20

JINHUI HOLDINGS (00137) announced that the seller, Jinrui Marine Inc., an indirect subsidiary in which the company holds approximately 55.69% equity, entered into an agreement with the buyer on March 20, 2026 (after trading hours) for the sale of a vessel at a price of $24 million (approximately HK$187.2 million). The vessel is scheduled to be delivered by the seller to the buyer between July 15, 2026, and August 17, 2026.

The vessel in question is a 63,435 deadweight tonnage ship built in 2014 and registered in Hong Kong. The seller guarantees that, upon delivery, the vessel will be free from any charters, encumbrances, mortgages, maritime liens, or any other liabilities. It will be delivered to the buyer on an unencumbered basis.

The principal business of the group is international ship leasing and vessel ownership. The directors continuously monitor the current market conditions in the shipping industry and adjust the group's fleet composition as necessary. The sale of this vessel aligns with the group's ongoing strategy to optimize its fleet by maintaining a balanced portfolio and reducing operational risk exposure in the currently volatile market. Proceeds from the vessel's sale are expected to enhance the group's working capital position and further strengthen its liquidity and overall financial condition.

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