Jinhui continues to trim old equipment

Jinhui continues to trim old equipment

In the first half of the year, Jinhui Shipping completed the scrapping of 68,000 deadweight tons of old vessels, with an average age of 22 years.

The company's scrapping efforts are a response to the current market environment and the need to reduce costs.

According to a source close to the company, Jinhui has been actively scrapping old vessels since the beginning of the year, with a focus on reducing its fleet size and improving its operational efficiency.

In the first half of the year, Jinhui's scrapping volume accounted for about 20% of its total fleet size, with the majority of the vessels being tanker ships.

The company's decision to scrap old vessels is part of its efforts to adapt to the changing market environment and reduce its costs.

As Jinhui's source pointed out, the company is facing increasing competition from new players in the market, and scrapping old vessels is one way to improve its competitiveness.

By scrapping old vessels, Jinhui can reduce its maintenance and operating costs, as well as improve its environmental performance.

The company's scrapping efforts are also part of its sustainability strategy, which aims to reduce its carbon footprint and improve its social responsibility.

Jinhui's decision to scrap old vessels has been welcomed by the industry, as it is seen as a positive move towards reducing the environmental impact of the shipping industry.

As one industry expert noted, "Jinhui's decision to scrap old vessels is a step in the right direction towards reducing the environmental impact of the shipping industry."

However, some industry players have raised concerns about the impact of scrapping old vessels on the market supply of old tonnage, which could lead to a shortage of available vessels for scrapping.

Jinhui's source pointed out that the company is closely monitoring the market supply of old tonnage and is prepared to adjust its scrapping plans accordingly.

In conclusion, Jinhui's decision to scrap old vessels is a positive move towards reducing the environmental impact of the shipping industry and improving its operational efficiency.

Author's summary:

Jinhui's efforts to scrap old vessels demonstrate the company's commitment to sustainability and reducing its environmental impact.

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Splash247 Splash247 — 2025-11-25

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