According to Zhitong Finance App, Jinhui Group (00137) announced that the first buyer Jinmao Marine Inc. and the second buyer, Jinmao Marine Inc. and the second buyer, Jinquan Marine Inc., which are indirect subsidiaries of the company, respectively signed the first shipbuilding contract and the second shipbuilding contract with the seller Jiangmen Nanyang Shipbuilding Engineering Co., Ltd. on September 21, 2026. According to the terms of these shipbuilding contracts, the seller agreed to build and sell the first ship and the second ship for the first buyer and the second buyer at a contract price of US$35.7 million for each ship, respectively. The total contract price for the first ship and the second ship was US$71.4 million. The first ship and the second ship will be delivered to the first buyer and second buyer on or before August 31, 2029 and September 30, 2029, respectively.
The first ship means a bulk carrier with a load capacity of 64,500 tonnes delivered on or before August 31, 2029; the second ship means a bulk carrier with a carrying capacity of 64,500 tonnes delivered on or before September 30, 2029.
The Group's main business is international ship leasing and ship ownership. The acquisition of the first ship and the second ship is in line with the Group's ongoing strategy to renew its fleet with modern, larger and higher quality ships, and gradually eliminate older ships and replace them with newer and younger ships. The number of modern ships that are suitable for the second-hand market and are young fluctuates greatly. Currently, there are no high-quality, under-aged used ships with suitable specifications, favorable delivery times and reasonable prices on the market. We have taken into account the transaction prices of comparable ships in recent market transactions and decided to order a new ship that complies with the latest maritime regulations and incorporates a special design. Compared to other bulk carriers currently operated by the Group, these vessels have higher fuel efficiency and operational efficiency, and meet the latest environmental regulations and current regulations in the shipping industry. This decision supports the company's long-term goal of maintaining a young and modern fleet to provide better service to its customers and meet the specific needs of its freight trade and destinations.