India, July 23 -- Jinhu i Shipping and Transportation Limited (0JOD.L), Wednesday announced its decision to sell two supramax bulkers for $10.8 million and $11 million, respectively.
The move is part of the company's strategy to restructure its fleet portfolio and reduce operational risk exposure. Additionally, it aims to improve its working capital position as well as strengthen its overall financial condition.
In light of the sale, the company anticipates to book a loss of HK$16 million from the deal. Meanwhile, the proceeds will be retained as working capital for the group.
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