Jinhui Shipping and Transportation has secured up to $36m through sale-and-leaseback deals covering two ultramax bulk carriers under construction in China.

The Oslo- and Hong Kong-listed owner has agreed to sell the two 64，500 dwt newbuildings to separate leasing vehicles for up to $18m each before bareboat chartering them back for periods of up to five years.

The ships，to be named Jin Yao and Jin Fu，are scheduled for delivery in February and March 2028， respectively.

Jinhui retains purchase options throughout the charter period and will be required to buy the vessels back at the end of the agreements if the options are not exercised earlier.

The company said the structures would finance part of the acquisition cost while allowing Jinhui to retain operational control of the vessels.

Each newbuilding carries a contractual price of $33.05m. The buyers are Hong Kong-incorporated ship leasing companies linked in trade reporting to ICBC Financial Leasing.

Jinhui has been steadily expanding its ultramax orderbook while disposing of older supramax tonnage as part of a wider fleet renewal programme.