Oslo-listed supramax specialist Jinhui Shipping & Transportation turned a small profit in the fourth quarter of 2019 on a stronger top line from hire rates.
Jinhui recorded a profit of $5.6m, or $0.05 per share, reversing a loss of $3.1m, or $0.03 per share, for the corresponding quarter of 2018.
A better market made the difference. Jinhui’s fleet, currently at 18 units, recorded average time charter equivalent (TCE) rates of $11,419 per day versus $9,815 in the same period of 2018.
