Jinhui Shipping buys supramax from Blue Planet Shipping

Chinese bulk carrier operator Jinhui Shipping and Transportation has announced the acquisition of 2004-built 53,806 dwt supramax bulker Avra from Sea Venture Navigation, a unit of Greek owner Blue Plant Shipping. The Chinese-built vessel was sold for a price of £7.275m, significantly higher than VesselsValue’s valuation of £4.62m and MSI fair market value of £4.9m. Jinhui Shipping said that management considers the purchase price highly attractive and expects the ship to generate a steady stream of income for the company.

Jinhui currently owns 18 bulkers made up of 16 supramaxes and two post-panamaxes.