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Jinhui Shipping to Sell Vessel for $15 Million

MT Newswires·10/14/2026 07:47:00
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07:47 AM EDT, 10/14/2026 (MT Newswires) -- A Jinhui Shipping and Transportation (JIN.OL) subsidiary agreed to sell a vessel to a company incorporated in Hong Kong for $14.6 million. The buyer, Heng Fa Shipping, will pay $1.5 million initially and $7.1 million two days before delivery of the vessel, while the remaining $6 million will be paid in eight quarterly installments, according to a Wednesday release. Delivery of the vessel is anticipated between Oct. 20 and Nov. 30. The Oslo-listed shipping company said the net sale proceeds will be used for general working capital purposes, the repayment of short-term borrowings, and to optimize its capital structure.