Jinhui Holdings in expansion mode

Hong Kong-based Jinhui Holdings has ordered a 38,000 dwt handysize bulk carrier from Japan’s Naikai Zosen at a cost of Yen4.5bn ($42.3m). Delivery is scheduled in 2012. Last week the bulker operator shelled out $126.6m for a pair of 92,400 dwt post-Panamax newbuildings which will be built by China’s Jiangsu New Yangzi Shipbuilding.