Jinhui Shipping & Transportation has seen the sale of one of its supramax bulkers collapse, bringing its last agreed divestment of 2025 to an end.

The Oslo-listed, Hong Kong-based owner had agreed to sell the 2012-built, 56,361 dwt Jin Bi to Hong Kong buyer Xing Le Investments for $14.4m. Delivery was due to take place between December 15, 2025, and January 30, 2026.

In a filing, Jinhui said the sale and purchase agreement was cancelled on January 23, after a delivery-related condition could not be met. The initial deposit of $1.44m, held in escrow, will be returned to the buyer in line with the contract terms.

The Jin Bi has been owned by Jinhui since newbuilding delivery and carried an unaudited net book value of around $13.2m at the end of October. Had the deal gone through, the company would have booked a gain of roughly $1.2m.

The failed sale comes after an active year of fleet reshaping for Jinhui. In 2025, the company agreed to sell 11 older supramaxes, including the Jin Bi, while moving ahead with plans to renew the fleet.

At the same time, Jinhui has been building up its ultramax exposure. The owner last year placed a four-ship ultramax order at Jiangmen Nanyang, following two earlier 63,500 dwt newbuilding contracts at Jiangsu Hantong Ship Heavy Industry.

Jinhui said the cancellation is not expected to have any material adverse impact on the group’s financial position or operations.