Oslo-listed dry bulk owner Jinhui Shipping and Transportation has offloaded another ultramax, marking its second sale in March as it continues to streamline its fleet.

The Hong Kong-based owner has agreed to sell the 2014-built Jin Rui to Huaya Maritime Corporation for $24m, with delivery scheduled between July 15 and August 17.

The 63,435 dwt vessel, registered in Hong Kong, will be handed over free of charter, debt and any encumbrances, the company said.

Jinhui acquired the ship in 2023, and based on an unaudited book value of about $19.16m as of end-January, the deal is expected to generate a gain of roughly $4.6m.

The latest move follows closely on the sale of 63,485 dwt Jin Ping, built the same year, which was agreed earlier this month with Hongkong Yiming Shipping for $23.46m.

The back-to-back disposals underline Jinhui’s ongoing fleet reshaping. The owner sold around 10 supramaxes last year as part of a plan to lower the average fleet age and improve efficiency.

The group has a fleet of 21 vessels, including 18 owned ships — counting those already agreed for disposal — and three chartered-in units. At the same time, Jinhui has been building up its ultramax pipeline at Chinese yards, positioning itself with newer tonnage as older vessels are phased out.