The Oslo and HongKong-listed dry bulk shipowner saw revenue for the quarter slide by 32%year-on-year to $36.7m.
Itblamed the poor result on reduced chartering earnings due to increasingballasting and positioning periods and weak rates due to the oversupply oftonnage.
It also suffered a ‘fairvalue loss’ of about $3m on its investment portfolio due to a correction inemerging markets during the quarter.
Jinhui’sfleet achieved an average daily time charter equivalent (TCE) rate of $10,558during the quarter versus $13,294 a year ago.
Capesize
