Chinese bulk carrier operator, Jinhui Shipping and Transportation, has announced the acquisition of 2004-built 53,806 DWT Supramax bulker Avra from Sea Venture Navigation, a unit of Greek owner Blue Plant Shipping.

The Chinese-built vessel was sold for a price of $7.275m, significantly higher than VesselsValue’s valuation of $4.62m and MSI’s fair market value of $4.9m.

Jinhui Shipping said that management considers the purchase price highly attractive and expects the ship to generate a steady stream of income for the company.

Jinhui currently owns 18 bulkers made up of 16 Supramaxes and two post-Panamaxes.