Jinhui Shipping

Hong Kong-based Bermuda-registered shipowner and operator Jinhui Shipping and Transportation Limited has reported a return to profitability in the first quarter of 2024. This return to profit, with a net gain of $2.4 million, was primarily driven by an increase in tonne-mile demand due to various geopolitical events. The Oslo and Hong Kong-listed Jinhui Shipping and Transportation Limited’s revenue for Q1 2024 was $27.8 million. Jinhui Shipping and Transportation Limited indicated that it plans to expand its fleet through the acquisition of secondhand vessels or charters, rather than investing in newbuildings. Jinhui Shipping and Transportation Limited highlighted that the dry bulk market demonstrated unusual strength in Q1 2024, continuing the freight rate momentum from Q4 2023. This strength was supported by increased demand for dry bulk commodities and extended sailing distances, contributing significantly to their financial turnaround. 4-June-2024

 

Jinhui Marine, a subsidiary of the Oslo and Hong Kong-listed Jinhui Shipping and Transportation Limited, has recently taken an ultramax bulk carrier, the MV Xing He Hai, on a time charter. The 2016-built vessel has been contracted from Fortune Ocean Shipping Ltd for approximately two years. Jinhui Marine will pay around $9.02 million for the charter, which breaks down to a daily rate of $16,250. The Singapore-flagged MV Xing He Hai is scheduled for delivery to Jinhui Marine in June 2024. This latest charter follows several other significant agreements by Jinhui Shipping and Transportation Limited. Previously, the company secured a charter for the 2017-built newcastlemax bulk carrier MV True Neptune from Singapore-based Olam Maritime Freight. This arrangement, worth approximately $26.5 million, spans at least 33 months. Shortly before this, the company finalized a $10 million, 22-month charter for the 2016-built ultramax bulk carrier MV Pacific Lilly, leased from the Singapore branch of Chinese shipowner Zhejiang Shipping. Additionally, in December 2023, Jinhui Shipping and Transportation Limited entered into a charter for the 2021-built kamsarmax bulk carrier MV Ever Shining. The company’s first ever charter was the MV Taho Circular in 2022, marking a significant milestone in its expansion and operational strategy in the bulk carrier market. 7-May-2024

 

Jinhui Shipping and Transportation Limited, which is listed in Oslo and Hong Kong, has secured a long-term charter for a newcastlemax bulk carrier, marking the second such agreement in less than a week. This time, Hong Kong-based Bermuda-registered shipowner and operator Jinhui Shipping and Transportation Limited has chartered the 2017-built newcastlemax bulk carrier 207K DWT MV True Neptune from Singapore-based Olam Maritime Freight Pte Ltd for a minimum of 33 months, with an option to extend the charter for an additional three months. The contract for the MV True Neptune is valued at approximately $26.5 million, translating to around $31,500 per day. The Liberia-flagged MV True Neptune is scheduled for delivery to Jinhui Shipping and Transportation Limited between January 1, 2025, and March 31, 2025. By securing this charter, Jinhui Shipping and Transportation Limited aims to expand its carrying capacity through the addition of a modern newcastlemax bulk carrier, without the financial burden of ownership. This strategic approach allows the Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited to mitigate inflationary pressures on borrowing costs and other financial variabilities associated with outright vessel acquisition. MV True Neptune will be the first newcastlemax bulk carrier in Jinhui Shipping and Transportation Limited’s fleet, increasing the number of chartered-in bulk carriers to four. This latest charter follows closely on the heels of another recent agreement, where Jinhui Shipping and Transportation Limited committed to a $10 million, 22-month charter for the 2016-built ultramax bulk carrier MV Pacific Lilly from Zhejiang Shipping Pte Ltd. Additionally, in December 2023, Jinhui Shipping and Transportation Limited had chartered in the 2021-built kamsarmax bulk carrier MV Ever Shining, further underscoring its strategy to enhance fleet capacity through chartered bulk carriers. 19-April-2024

 

Hong Kong-based Bermuda-registered shipowner and operator Jinhui Shipping and Transportation Limited is set to enhance its fleet through its inaugural long-term charter-in agreement of 2024. Known primarily for its engagement in secondhand ship Sale and Purchase (S&P) transactions, Jinhui Shipping and Transportation, which is listed both in Oslo and Hong Kong, has secured a charter for the 2016-constructed ultramax bulk carrier 61K DWT MV Pacific Lilly. MV Pacific Lilly, coming from the Singapore-based shipowner and operator Zhejiang Shipping, will be under contract to Jinhui Shipping and Transportation Limited for a minimum duration of 22 months, amounting to an agreement valued at approximately $10 million, or $16,500 per day. The Marshall Islands-flagged MV Pacific Lilly is scheduled to join Jinhui Shipping and Transportation Limited by May 8, 2024. This addition marks the third charter-in bulk carrier for Jinhui Shipping and Transportation Limited, augmenting its fleet of 24 owned bulk carriers, including the kamsarmax bulk carrier MV Ever Shining, which was chartered in December 2023. Jinhui Shipping and Transportation Limited has highlighted the strategic advantage of securing long-term charters at fixed rates as a way to mitigate inflationary impacts on borrowing expenses and other variable costs associated with the direct purchase of bulk carriers. 12-April-2024

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited has experienced a downturn in its financial results, significantly affected by substantial impairments on its older vessels. Jinhui Shipping and Transportation Limited is actively pursuing a strategy to modernize its bulker fleet, acknowledging that the book values of some vessels considerably exceed their earning capabilities. These significant impairment charges have notably influenced Jinhui Shipping and Transportation Limited’s annual financial outcomes, propelling the company into a steeper loss. 2023 has been marked as a challenging year for Jinhui Shipping and Transportation Limited, with the company grappling with the dual pressures of rising inflation and a deceleration in economic growth. The Oslo-listed maritime firm Jinhui Shipping and Transportation Limited reported a notable $14 million impairment loss on its collection of owned supramax bulkers, accompanied by a $5.7 million loss on right-of-use assets. Remarkably, these figures represent a reduction of nearly 50% in impairments compared to the previous year, a change largely attributed to the disposal of several of its older bulk carriers in the preceding year. 27-February-2024

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited is making strides in expanding its fleet by acquiring a contemporary kamsarmax bulk carrier. The Oslo- and Hong Kong-listed shipowner Jinhui Shipping and Transportation Limited has been identified as the buyer in a recent transaction for the 81K DWT 2019-built kamsarmax bulk carrier MV Vincent Trader, constructed by Jiangsu Hantong, for a purchase price of approximately $31 million. The MV Vincent Trader, with an 81K DWT capacity, is scheduled for delivery in June 2024 on a free-from-charter basis. MV Vincent Trader was previously one of four ships under a bareboat charter to Vincent Shipping from Japanese owner Nisshin Shipping, all of which had purchase options. Vincent Shipping has reportedly transferred all these vessels, thereby exiting the dry bulk market. Throughout 2023, Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited has actively engaged in fleet rejuvenation efforts, divesting from older bulk carriers while acquiring newer, more efficient ones. This initiative included chartering a kamsarmax bulk carrier built in 2021 and purchasing a capesize bulk carrier from 2012 for around $31 million. The acquisition of MV Vincent Trader will complement Jinhui Shipping and Transportation Limited’s existing fleet, which predominantly consists of supramax and ultramax bulk carriers, bringing its total to 23 owned bulk carriers. This strategic expansion reflects Jinhui Shipping and Transportation Limited’s commitment to modernizing its fleet and enhancing its competitive edge in the global shipping industry. 21-February-2024

 

Jinhui Shipping and Transportation Limited, a company registered in Bermuda with operations based in Hong Kong, is expanding its fleet by acquiring a capesize bulk carrier from the Taiwanese shipowner and operator, Hsin Chien Marine. The Oslo and Hong Kong-listed Jinhui Shipping and Transportation Limited has purchased the 2012-built, 181K DWT MV New Delight for approximately $31 million. The delivery of the MV New Delight is scheduled between July and mid-September 2024. Throughout 2023, Jinhui Shipping and Transportation Limited engaged in multiple transactions aimed at rejuvenating its fleet by selling older bulk carriers and acquiring younger ones. Among its recent activities, Jinhui Shipping and Transportation Limited sold the 2006-built supramax bulk carrier 52K DWT MV Jin Sheng for around $10.5 million and entered into a charter for a kamsarmax bulk carrier built in 2021. The acquisition of the MV New Delight, a capesize bulk carrier from 2012, will complement Jinhui Shipping and Transportation Limited’s existing fleet of 22 owned supramax and ultramax bulk carriers, further enhancing its operational capabilities. 5-February-2024

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited has recently acquired its first capesize bulk carrier, marking a significant step in its fleet renewal strategy. The Oslo- and Hong Kong-listed shipowner Jinhui Shipping and Transportation Limited purchased the capesize bulk carrier MV New Delight, with a deadweight of 181K from Hsin Chien Marine for $30.95 million. This addition to its fleet represents Jinhui Shipping & Transportation’s commitment to enhancing its operational capabilities. The vessel, built in Japan in 2012, signals Jinhui Shipping and Transportation Limited’s intention to refine its fleet profile by strategically managing its asset portfolio, as stated by the company’s director. This acquisition is seen as a move to optimize Jinhui Shipping & Transportation’s fleet through thoughtful asset management. 2-February-2024

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited has entered into a substantial long-term agreement with Taiwanese shipowner First Steamship for a kamsarmax bulk carrier built in 2021. The ship, named MV Ever Shining, will be chartered by Jinhui Shipping and Transportation’s subsidiary, Goldbeam Shipping, for up to two years. The Oslo- and Hong Kong-listed company will start chartering the 81K DWT, Liberia-flagged vessel in December for at least 22 months, in a contract valued at approximately $8.5 million. The arrangement, which includes the option to extend for two more months, is set at a daily rate of $14,250 for the first year and $14,750 for the remaining period. This long-term charter, at a relatively fixed hire rate, is strategically beneficial for JHong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited, as it allows the company to avoid the fluctuations and uncertainties of inflation and other costs associated with purchasing a kamsarmax bulk carrier outright. As of September 30, Jinhui Shipping and Transportation’s fleet consisted of 25 supramax and ultramax bulk carriers, including 24 owned bulk carriers and one chartered bulk carrier. 12-December-2023

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited, a company listed in Oslo and Hong Kong, is actively upgrading its fleet by offloading older supramax bulk carriers. This move comes as part of the Jinhui Shipping and Transportation Limited’s strategy to manage the impact of weak market conditions on its financial performance, particularly noted in the Q3 2023. Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited is focused on finding the right balance between the additional maintenance costs associated with aging vessels and their potential for revenue generation. In line with this approach, Jinhui Shipping and Transportation Limited has recently completed the sale of another one of its older supramax bulk carriers, as part of its efforts to rejuvenate the age profile of its fleet. 2006 built supramax bulk carrier 52K DWT MV Jin Quan has been sold to another shipowner based in Hong Kong for approximately $9.5 million. The Hong Kong-flagged MV Jin Quan is scheduled for handover to its new owner by the end of January 2024. This sale is a clear indication of Jinhui Shipping and Transportation Limited’s commitment to optimizing its fleet amid changing market dynamics. 30-November-2023

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited, a company listed in Oslo and Hong Kong, has recently agreed to sell another one of its older supramax bulk carriers. The Chinese Jinhui Shipping and Transportation is in the process of selling the 2006 built supramax bulk carrier 52K DWT MV Jin Quan to King Lucky Ocean, a Hong Kong-based firm, for approximately $9.6 million. MV Jin Quan, constructed by Tsuneishi Cebu, was acquired by Jinhui Shipping and Transportation in 2021 for $9.3 million from the Atehns-based shipowner and operator Unisea Shipping, where it was previously named MV Makiki. The transfer of ownership is scheduled for December 2023. Earlier, in September 2023, Jinhui Shipping and Transportation sold their 2004-built supramax bulk carrier MV Jin Feng to ETL Shipping, a Singaporean shipowner and operator, for about $8.1 million. Simultaneously, Jinhui Shipping and Transportation Limited acquired the 2014-built ultramax bulk carrier MV Hanton Trader III for around $20.4 million. Following these transactions, Jinhui Shipping and Transportation Limited’s fleet now comprises 25 bulk carriers, with 24 owned outright and one chartered. 29-November-2023

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited has sold 2004 built supramax bulk carrier 52K DWT MV Jin Feng (ex MV Tai Hawk) to Singapore-based ETL Shipping around $8.1 million. In 2021, Oshima-constructed 2004 built supramax bulk carrier 52K DWT MV Jin Feng (ex MV Tai Hawk) acquired by Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping and Transportation Limited for $10.8 million. Jinhui Shipping and Transportation Limited plans to allocate the entire net proceeds from this sale towards its general working capital. Currently, Jinhui Shipping and Transportation Limited holding ownership of 23 supramaxes and a singular ultramax. 21-September-2023

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited records a downturn in the Q2 2023 amid a waning supramax dry bulk market. Jinhui Shipping and Transportation Limited reported a loss of $6.5 million. The shipping market is influenced downwardly by the surge in inflation, augmented interest rates, and alleviating port congestion, as per the statements from Jinhui Shipping and Transportation Limited. Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping and Transportation Limited registered a significant dip during the Q2 2023, noting that the fervor that once propelled the supramax sector a year prior has considerably diminished. The time charter equivalent rates for Jinhui Shipping and Transportation Limited’s fleet of 25 bulk carriers observed a decline. Currently, Jinhui Shipping and Transportation Limited holding ownership of 24 supramaxes and a singular ultramax. 28-August-2023

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited reported a $46 million full-year loss for 2022. Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping and Transportation Limited blames the unusually difficult environment in the dry bulk market in 2022. Supramax specialist Jinhui Shipping and Transportation Limited stated a significant contributing factor to the loss is an impairment of around $49 million on the company’s fleet of 22 supramax bulk carriers. Jinhui Shipping and Transportation Limited blamed the loss on an unprecedentedly challenging environment for the poor performance. Jinhui Shipping and Transportation Limited forecast was based on a preliminary assessment of the unaudited consolidated management accounts. Currently, Jinhui Shipping and Transportation Limited owns and operates 22 supramax bulk carriers. 24-February-2023

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited sold 2004 built supramax bulk carrier 52K DWT for around $13.3 million. Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping & Transportation Limited will deliver the supramax bulk carrier to the new owners at the beginning of December. Previously, Jinhui Shipping and Transportation Limited sold 2010 built post-panamax bulk carrier 93K DWT MV Jin Lang and 2010 built post-panamax bulk carrier 93K DWT MV Jin Mei. Jinhui Shipping & Transportation Limited sold three bulk carriers in October due to a fleet renewal programme. Currently, Jinhui Shipping and Transportation Limited owns and operates 25 supramax bulk carriers. 26-October-2022

 

Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited sold 2010 built post-panamax bulk carrier 93K DWT MV Jin Lang and 2010 built post-panamax bulk carrier 93K DWT MV Jin Mei for $34.5 million total. Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping & Transportation Limited will deliver MV Jin Lang and MV Jin Mei to the new shipowner in Q4 2022. Jinhui Shipping and Transportation Limited aim to reduce the fleet’s age profile. Hong Kong-based Bermuda-registered Jinhui Shipping and Transportation Limited is set to become a pure supramax shipowner after deciding to sell MV Jin Lang and MV Jin Mei. Currently, Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping & Transportation owns 26 supramax bulk carriers. 20-October-2022

 

Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping and Transportation Limited reported a net profit of $194.2 million for 2021. Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited reported revenue of $131 million for 2021. In 2021, supramax specialist Jinhui Shipping and Transportation Limited profited from substantial freight markets. Jinhui Shipping and Transportation Limited reported a net profit of $194.2 million for 2021. Jinhui Shipping and Transportation Limited reported an average daily TCE (Time Charter Equivalent) of $19,233 per day per ship. Outstanding rebound in ship charter rates and the growth in owned bulk carriers impacted the net profit of Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping and Transportation Limited. In Q4 2021, Jinhui Shipping and Transportation Limited reported a net profit of $84 million. In 2021, Jinhui Shipping and Transportation Limited acquired eight (8) bulk carriers. 2021 has been a satisfactory year for dry bulk shipping with strong freight rates driven by a widespread boost in demand for bulk cargoes. Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited anticipated few new building bulk carrier orders, as there is no agreement in the shipbuilding industry yet with regards to the next-generation engine design to lower carbon emissions. Currently, Hong Kong and Oslo-listed shipowner and operator Jinhui Shipping and Transportation Limited owns 24 bulk carriers. 27-February-2022

 

Hong Kong-based Chinese bulk carrier operator, Jinhui Shipping and Transportation, has made a significant move in its fleet expansion efforts by acquiring the MV Tai Hawk, a 52,000 deadweight tons (DWT) supramax bulker, originally built in 2004. The acquisition was made from Tai Shing Maritime, an affiliate of Taiwan Navigation Company (TNC), and it comes with a price tag of $10.8 million. This Japanese-built vessel, the MV Tai Hawk, is scheduled for delivery to Jinhui Shipping and Transportation sometime between June 10 and August 15 of the current year. Jinhui Shipping and Transportation, with a pre-existing fleet of 19 bulk carriers, has been actively pursuing further growth in its operations, with two additional acquisitions already in the pipeline, pending delivery. In a move reflecting its expansion strategy, the company made a notable addition to its fleet in late April by acquiring the MV Makiki, another supramax bulk carrier. This vessel, built in 2006, was purchased from Greek owner Unisea Shipping. These acquisitions collectively underscore Jinhui Shipping and Transportation’s commitment to strengthening its presence and capabilities within the bulk carrier sector of the maritime industry. 19-May-2021

 

Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited reported a net loss of $15.25 million for 2020 due to the post-coronavirus recession. Jinhui Shipping and Transportation Limited reported a revenue of $47.12 million for 2020. Oslo Stock Exchange-listed Jinhui Shipping and Transportation’s majority shared are owned by Hong Kong-listed Jinhui Holdings and controlled by brothers Ng Siu Fai and Thomas Ng Kam Wah. Bermuda registered and Hong Kong-based Jinhui Shipping and Transportation Limited published that the drivers for a net loss of $15.25 million were the consequence of the coronavirus pandemic on shipping business and, therefore, on chartering and freight revenue, unrealized impairments on the value of bulk carriers, and an increase in ship operating costs. In Q4 2020, Jinhui Shipping and Transportation Limited reported a revenue of $15.14 million. In July 2020, Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited acquired 2001 built supramax bulk carrier 50K DWT MV Atlantica for around $4 million. In December 2020, Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited sold 2002 built supramax bulk carrier 50K DWT MV Jin Ping for around $5.5 million to Hong Kong Xinfeng Shipping. Jinhui Shipping and Transportation Limited reported TCE (Time-Charter Equivalent) $7,269 per day per bulk carrier for 2020. Bermuda registered and Hong Kong-based Jinhui Shipping and Transportation Limited has significant investments and other financial holdings. Currently, Jinhui Shipping and Transportation Limited has a fleet of two (2) post-panamax bulk carriers and seventeen (17) supramax bulk carriers. 23-February-2021

 

Oslo Stock Exchange-listed Jinhui Shipping and Transportation has reported a net profit of $766,000 for Q3 2020. Bermuda registered and Hong Kong-based Jinhui Shipping’s first quarterly profit since the end of 2019. In Q3 2019, Jinhui Shipping and Transportation reported a net loss of $2.37 million. In Q3 2020, a net profit of $766,000 came due to lower finance costs, lower expenses, and a smaller impact on the change in the fair value of fleet than previous quarters. In Q3 2020, Jinhui Shipping and Transportation has reported earnings of $14.3 million compared to $16.6m million in Q3 2019. Jinhui Shipping and Transportation is going to pay around $61 million of secured loans which are due by Q2 2021. Oslo Stock Exchange-listed Jinhui Shipping and Transportation will be careful of shipping market volatility that could influence the value of its fleet. In Q3 2020, Jinhui Shipping and Transportation has no capital expenditure commitment to the new-building bulk carrier contracts and sustains a solid financial position. Currently, Bermuda registered and Hong Kong-based shipowner and operator Jinhui Shipping and Transportation controls a fleet of 19 bulk carriers. 29-November-2020

 

Bermuda registered and Hong Kong-based Jinhui Shipping reported a net loss of $5.2 million in Q2 2020 due to post-coronavirus recession. Many supramax bulk carriers lie at anchor as coronavirus pandemic halts many dry bulk cargoes such as nickel ore. In Q2 2020, Oslo Stock Exchange-listed Jinhui Shipping and Transportation reported a revenue of $8.5 million. Ng Sui Fai-led Jinhui Shipping reported TCE (Average Time Charter Equivalent) of $5,229 in Q2 2020. In Q2 2020, BDI (Baltic Dry Index) was at 783 points. According to Jinhui Shipping and Transportation, in Q2 2020, the freight market has been challenging due to a slowdown in industrial activity which diminished activity in the dry bulk shipping market. Currently, Hong Kong-based Jinhui Shipping has a fleet of 18 bulk carriers. 24-August-2020

 

In light of pandemic apprehensions and the raging oil price dispute, US stocks took a profound nosedive. The trading arenas witnessed their steepest devaluations since the 2008 debacle, with investors rendered uneasy by the COVID-19 outbreak and the ensuing oil-price strife. US-affiliated maritime equities experienced a precipitous descent on Monday, mirroring the broader market’s trajectory, agitated by pandemic anxieties and the oil-centric contention between Russia and Saudi Arabia. The maritime domain saw extensive divestments, with Dorian LPG’s stocks dwindling a staggering 24.8% to a close of $7.44 at the culmination of the New York trading soiree. Teekay Corp’s equity also bore the brunt, receding 22.9% to $2.22. Additional shares enduring substantial percentage retractions encompassed bulker magnate Navios Maritime Partners, tapering 22.5% to $6.53. Concurrently, Golar LNG witnessed a 21.5% reduction to $8.29. Contrarily, the sole maritime segment observing ascents was tankers, underscored by Frontline’s appreciable 7.4% surge to $7.56. The Dow Jones Industrial Average encapsulated the overarching scenario of the most profound market downturn since the 2008 economic catastrophe, dwindling 2,014 points to settle at 23,851. European equities on Monday also encountered pronounced depreciations, with London’s FTSE 100 enduring its most considerable intra-day decline in over a decade as global corona virus diagnoses approached 110,000. BW Offshore saw an erasure of nearly a quarter of its valuation in Oslo, while the worth of seismic survey vessel forerunner PGS diminished by a striking 38.4%. Another seismic survey conglomerate, CGG, depreciated by 33% on French soil. Bulker proprietor Cosco Corp in Singapore concluded Monday with an approximate 17% decrement. Oslo-based bulker magnates Golden Ocean and Jinhui Shipping & Transportation waned by 6.6% and 21% respectively. Simultaneously, LNG vessel magnate Hoegh LNG witnessed an 18% depreciation in its value. The Brent’s decline marked its most dramatic descent since the commencement of the inaugural Gulf conflict in 1991. Analysts conjectured a potential further decline unless both Saudis and Russians re-engage in deliberations in the wake of the recent disintegration of the Opec+ production agreement. Amidst this chaos, the Baltic Exchange Dry Index terminated with a marginal decline, down merely a point at 616. However, the capesize index retracted 60 points, culminating at -372. Anticipations were rife for a substantial US stock downturn on Monday, even preceding market commencement, with equity futures hinting at a prospective 4.8% decline for the emblematic Dow Jones Industrial Average. 8-March-2020

 

Bermuda registered and Hong Kong-based Jinhui Shipping and Transportation Limited reported a profit of $5.6 million in Q4 2019 due to stronger bulk carrier charter rates. Additionally, Jinhui Shipping and Transportation Limited reported a revenue of $19.8 million in Q4 2019. Jinhui Shipping and Transportation Limited reported a revenue of $63.2 million for the full year of 2019. Oslo Stock Exchange-listed Jinhui Shipping and Transportation received support of Q4 2019 dry bulk shipping environment however, Jinhui Shipping and Transportation is pretty unadventurous over coronavirus repercussions. In Q4 2019, Jinhui Shipping and Transportation Limited reported average TCE (Time Charter Equivalent) rates of $11,419 per day per bulk carrier. Meanwhile, in Q4 2019, Baltic Dry Index (BDI) slumped from 1,929 to 1,090. According to Jinhui Shipping and Transportation Limited, coronavirus will dramatically affect the dry bulk shipping market in 2020. Post-coronavirus recession’s negative backdrop translated to much-reduced action in the dry bulk freight market. Currently, Hong Kong-based Jinhui Shipping and Transportation Limited has a fleet of eighteen (18) bulk carriers. 27-February-2020

 

Bermuda registered and Hong Kong-based Jinhui Shipping is cautious as the macroeconomy remains uncertain. Oslo Stock Exchange-listed Jinhui Shipping and Transportation find it difficult to plan for the future while the global economy looks uncertain. According to Jinhui Shipping and Transportation’s vice-president Raymond Ching, the United States-China trade war is the biggest overhang that’s affecting the sentiment in the shipping business. Furthermore, there’s a general fear of a global economic slowdown, which translates to weakness in demand in the shipping industry. Jinhui Shipping and Transportation expect a volatile market in the near future for both the shipping business and the global economy. On the other hand, a low number of newbuilding orders at the Far East shipyards is going to give the shipping market strong support. Hong Kong-based shipowner and operator Jinhui Shipping and Transportation is focusing its investments in securities rather than asset plays and believes that asset play comes to an end. In June 2019, Jinhui Shipping and Transportation were forced to terminate the purchase of one of two supramax bulk carriers from Greek shipowner Chartworld Shipping. Jinhui Shipping and Transportation have been investing cash into yield enhancement securities which will provide positive cash-flows for the company. Jinhui Shipping and Transportation has reported total debt of $118 million in Q2 2019, against $90 million Q2 2018. Jinhui Shipping and Transportation opts for Low Sulfur Fuel Oil (LSFO) to meet IMO 2020 regulations instead of scrubbers. In May 2019, Greek shipowner and operator Chartworld Shipping delivered one of the supramax bulk carriers to Jinhui Shipping and Transportation, but Jinhui Shipping and Transportation was forced to cancel its purchase of the second supramax bulk carrier because Chartworld Shipping was unable to deliver supramax bulk carrier on time. Subsequently, Chartworld Shipping refunded an initial deposit of $625,000 to Jinhui Shipping and Transportation. Jinhui Shipping and Transportation has reported a net loss of $1.1 million in Q2 2019 which equates to a basic loss per share of $0.01. Jinhui Shipping and Transportation reported a net profit of $2.84 million in Q2 2018 which equates to a basic profit per share of $0.026. Jinhui Shipping and Transportation reported revenue of $14 million in Q2 2019, against $22.1 million in Q2 2018. Drop-in revenue was due to the weaker freight environment and a reduction in owned ships. In 2018, Jinhui Shipping and Transportation had a fleet of 23 and in 2019 has a fleet of 19 bulk carriers. 2-September-2019

 

Hong Kong and Oslo listed Jinhui Shipping and Transportation CEO Siu Fai Ng has purchased 6,947 shares and raises shareholding. CEO Siu Fai Ng spent around NOK 63,600 ($7,463) for the purchase of 6,947 shares. According to the Oslo Stock Exchange filing, CEO Siu Fai Ng paid an average price of NOK 9.16 each share. The latest transaction raised CEO Siu Fai Ng’s shareholding to 4,788,620 shares, equivalent to around 4.3% of all Jinhui Shipping and Transportation’s outstanding share capital. Besides, CEO Siu Fai Ng holds indirect stakes in Jinhui Shipping and Transportation through his majority shareholding in Jinhui Holdings and in Fairline Consultants. Jinhui Holdings and Fairline Consultants are majority shareholders in Jinhui Shipping and Transportation. Jinhui Shipping and Transportation’s shares were trading at a price of NOK 9.49 each. In early 2017, Oslo-listed Jinhui Shipping and Transportation axed bonus payments for top management following the 2016 crisis. 2017 reaction came from investors caused by the absence of dividends. Currently, Hong Kong and Oslo listed Jinhui Shipping and Transportation has a fleet of 17 supramax and 2 post-panamax bulk carriers. 18-July-2019

 

Singapore based ship-manager Poseidon Global Shipping has acquired supramax bulk carrier from Jinhui Shipping and Transportation Limited at the end of December 2018. Oslo and Hong Kong-listed Jinhui Shipping and Transportation Limited announced that it had sold a supramax bulk carrier for around $7 million but did not disclose the identity of the buyer at that time. Jinhui Shipping and Transportation Limited has now confirmed it sold 2001 built supramax bulk carrier 50K DWT MV Jin Zhou. MV Jin Zhou delivered to Singapore based Poseidon Global. Oslo and Hong Kong-listed Jinhui Shipping and Transportation Limited proceeds supramax bulker sales. In 2018, Jinhui Shipping and Transportation Limited sold four (4) supramax bulk carriers and another sold four (4) supramax bulk carries in 2017. Most supramax bulk carriers were built during the 2000s. Currently, Jinhui Shipping and Transportation Limited has a fleet of 18 bulk carriers. 16-July-2019

 

Bermuda registered and Hong Kong-based Jinhui Shipping and Transportation Limited scrapped a deal to acquire two (2) supramax bulk carriers from Athens-based Chartworld Shipping. Oslo Stock Exchange-listed Jinhui Shipping and Transportation canceled to buy 2001 built supramax bulk carrier 50K DWT MV Aifanourios and 2001 built supramax bulk carrier 50K DWT MV Aigeorgis due to late delivery. In April 2019, Jinhui Shipping and Transportation Limited signed a deal to acquire two (2) supramax bulk carriers from Athens-based Chartworld Shipping for around $6 million each. Hong Kong-based Jinhui Shipping and Transportation Limited stated that two (2) supramax bulk carriers deal termination would not have any substantial unfavorable effect on the financial status and operations of the company. Currently, Jinhui Shipping and Transportation Limited owns and operates nineteen (19) bulk carriers. 2-June-2019

 

Bermuda registered and Hong Kong-based Jinhui Shipping and Transportation Limited has signed an MOA (Memorandum of Agreement) to acquire two (2) supramax bulk carriers from Athens-based Chartworld Shipping. Jinhui Shipping and Transportation has not made any bulk carrier purchase since 2013. 2001 built supramax bulk carrier 50K DWT MV Aifanourios and 2001 built supramax bulk carrier 50K DWT MV Aigeorgis will be acquired for around $6 each if the deal is concluded. Currently, Jinhui Shipping and Transportation Limited owns and operates sixteen (16) supramax bulk carriers and two (2) post-panamax bulk carriers. 23-April-2019

 

Oslo Stock Exchange-listed and Hong Kong-based Jinhui Shipping and Transportation Limited’s chairman Siu Fai Ng increase his shares of the company. Jinhui Shipping and Transportation Limited’s chairman Siu Fai Ng purchased the company’s Oslo-listed shares for around $16,266 in total. Jinhui Shipping and Transportation Limited’s chairman Siu Fai Ng and his wife’s total shares increased to 4.8 million which is equivalent to 4.45% of the Jinhui Shipping and Transportation Limited. Furthermore, Jinhui Shipping and Transportation Limited’s Siu Fai Ng holds indirect stakes in the shipowning company through his majority shareholding in Jinhui Holdings and Fairline Consultants. Jinhui Holdings and Fairline Consultants are majority shareholders in Oslo Stock Exchange-listed and Hong Kong-based Jinhui Shipping and Transportation Limited. 17-April-2019

 

Oslo Stock Exchange-listed and Hong Kong-based Jinhui Shipping and Transportation Limited reported a net loss of $3 million in Q4 2018 due to the weaker dry bulk freight rate conditions. Jinhui Shipping and Transportation Limited reported a revenue of $17.7 million in Q4 2018. Bermuda registered and Hong Kong-based Jinhui Shipping and Transportation Limited’s Q4 2018 results were mainly affected by the sale of four bulk carriers. Jinhui Shipping and Transportation Limited reported an average daily TCE (Time CFharter Equivalent) rate of $9,815 per day per ship. Dry bulk shipping markets increased exceptionally at the beginning of 2018, motivated essentially by robust Chinese dry bulk imports and poor bulk carrier supply. However, dry bulk shipping market sentiment changed in Q4 2018 due to the pressure precipitated by the US-China trade war. Oslo Stock Exchange-listed and Hong Kong-based Jinhui Shipping and Transportation Limited reported a net profit of $8.7 million for the full year of 2018. 23-February-2019

 

Oslo and Hong Kong-listed shipowner and operator Jinhui Shipping sold handysize dry bulk carrier 2012 built 38K DWT M/V Jin Yu for $15 million. After paying debts of the vessels, balance will be added to working capital. Oslo and Hong Kong-listed shipowner and operator Jinhui Shipping has 2 post-panamax and 21 supramax dry bulk carriers. 27-April-2017

 

Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited sold a handysize dry bulk carrier 2012 Japan built 38K DWT M/V Jin Yu for $14.4 million for further trading. In October 2016, Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited sold 2009 built panamax dry bulk carrier 76K DWT M/V Jin Rui to Hanse Shipping Co for $10.6 million. Also in October 2016, Hong Kong-based shipowner and operator Jinhui Shipping and Transportation Limited sold other 2011 built panamax dry bulk carrier 75K DWT M/V Jin Chao to Greece based shipowner and operator Fundador Compania Naviera for $12.8 million. 10-December-2016