Jinhui Shipping reports big growth in first nine months

High dry bulk rates and reversal of losses trigger a significant improvement for Oslo-listed bulk operator Jinhui Shipping in the third quarter.

Photo: Jinhui Shipping and Trading

Dry bulk carrier Jinhui Shipping, listed in Oslo, has seen major advancement in the first nine months of the year, according to a press release on the shipping line's third-quarter result.

Jinhui's revenue for the first three quarters came to USD 88.5 million against USD 32 million in the same period of 2020. Including reversed impairment losses of USD 65.5 million, this yielded a net profit of USD 110.1 million in the first nine months against a net loss of USD 22.8 million in the first three quarters last year.

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