Jinhui Shipping Returns to Profits During the First Half
The Board of Jinhui Shipping and Transportation Limited (the “Company”) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the “Group”) for the quarter and six months ended 30 June 2026. SECOND QUARTER AND HALF YEARLY 2026 RESULTS Revenue for the second quarter of 2026 decreased 9% to US$36,460,000 ...
Jinhui Shipping and Transportation Limited reported improved financial performance during the first half of 2026, marking a return to profitability. Revenue for the period decreased 13% compared to the same period in 2025, reaching US$69,252,000. However, the Group achieved a consolidated net profit of US$9,593,000 during the half-year, up from a net loss of US$15,149,000 in the same period of 2025.
The average daily time charter equivalent rate for the fleet rose to US$17,150, indicating stronger market rates despite a reduction in the number of vessels in operation from thirty-two to twenty-one. The decline in revenue was primarily due to the disposal of eight Supramaxes earlier in the year. The company capitalized on tighter market conditions, driven by geopolitical disruptions and trade inefficiencies, by maintaining disciplined cost controls and focusing on optimizing vessel deployment.
The Group has entered into six shipbuilding contracts for Ultramax newbuildings, with expected deliveries between 2026 and 2030, further contributing to its fleet renewal strategy aimed at enhancing market competitiveness and long-term sustainability.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.