Chinese bulker owner and operator Jinhui Shipping and Transportation has returned to the secondhand market for another ultramax in its latest fleet renewal move.
The Oslo- and Hong Kong-listed company has picked up the 2017-built Great Century from CMB Financial Leasing in a deal worth $24.52m.
In November, broking sources linked the COSCO KHI Ship Engineering-built 61,400 dwt vessel to an auction in which Jinhui’s compatriot Amoysailing Maritime secured the bulker via a similar bid.
Jinhui has since last year cleared out several older vessels and brought in younger replacements either through charter-in deals or purchases in the secondhand and newbuilding markets. In June, the company ordered ultramaxes at Jiangsu Hantong Ship Heavy Industry for delivery in 2026 and 2027, followed by the acquisition of its second capesize vessel in July after buying its first ship in this segment in February.
Jinhui said its fleet currently stands at 33 bulkers of which six ultramaxes out of 25 owned. The latest addition, which will be 70% funded by bank financing, is expected for delivery between January and end-February 2025 on a free-from-charter basis.