Jinhui snaps up second capesize


Fleet expansion at Chinese bulker owner and operator Jinhui Shipping and Transportation is pressing ahead with the acquisition of a second capesize vessel this year.

The Oslo- and Hong Kong-listed company has picked up the 2008 Shanghai Waigaoqiao-built Ocean Courtesy from Singapore’s TNB Ocean Shipping for $24m.

Jinhui has brought in several vessels either via charter-in deals or acquisitions as part of the plan to expand and renew its fleet. It also most recently turned to the newbuilding market with a pair of ultramaxes contracted at Jiangsu Hantong Ship Heavy Industry for delivery in 2026 and 2027.

The company entered the cape segment in February with 181,279 dwt 2012 Imabari-built New Delight in a deal worth $30.95m.

The latest addition is expected between September and end-December this year on a free-from-charter basis, taking the owned fleet to 24 vessels.