Oslo-listed dry bulk owner Jinhui Shipping and Transportation has agreed to sell one of its ultramax bulk carriers as it continues to streamline its fleet.

The Hong Kong-based outfit said it has struck a $23.46m deal with Hongkong Yiming Shipping for the 2014-built 63,485 dwt bulker Jin Ping, with delivery set between June 1 and July 15 this year.

The vessel will be handed over free from charter, encumbrances, mortgages and maritime liens, according to the company filing.

Jinhui acquired the ship in 2022 and said the vessel had an unaudited net book value of about $19.9m as of end-December and that, based on that figure, the company expects to record a book gain of roughly $3.2m from the sale.

The latest deal comes as the owner continues to reshape its fleet, having sold around 10 supramax vessels last year as part of a strategy to lower the fleet’s average age. Jinhui also has a comprehensive ultramax newbuilding programme across Chinese yards as part of an ongoing fleet renewal drive.

The company operates a diversified dry bulk fleet of 21 vessels, including 18 owned, covering capesize, panamax, ultramax and supramax segments.

Earlier this year, Jinhui also saw a planned sale fall through after cancelling a deal for the 2012-built, 56,361 dwt Jin Bi. The vessel had been agreed for sale to Hong Kong-based Xing Le Investments for $14.4m, but the transaction was terminated in January after a delivery-related condition could not be met.