December 04, 2008

Jinhui Holding to buy 2 iron ore carriers

Hong Kong listed shipping firm Jinhui Holdings announced that its subsidiaries would buy two very large ore carriers for a total of USD 245.24 million, expanding its fleet to meet the growing iron ore transportation market.

Jinhui subsidiaries would buy the two vessels from Chinese shipbuilder China Shipping Industry Corp at USD 122.62 million each. The vessels, each with 300,000 DWT, will be delivered in June and December 2011 and will be used for chartering out for iron ore transportation.