Brief: Jinhui Expected To Record Consolidated Net Loss Of Around Us$46 Mln To Us$47 Mln For Q4

Jinhui Shipping and Transportation

23/02/2023 04:16

Feb 22 (Reuters) - Jinhui Shipping and Transportation
Ltd  JINJ.OL :
    * JINHUI - EXPECTED TO RECORD CONSOLIDATED NET LOSS OF
AROUND
US$46 MILLION TO US$47 MILLION AND AROUND US$6 MILLION TO US$7
MILLION FOR Q4 AND YEAR 2022 RESPECTIVELY
    * JINHUI SHIPPING AND TRANSPORTATION - DUE TO SUBDUED
MACROECONOMIC CONDITIONS IN SECOND HALF OF 2022, DRY BULK
SHIPPING MARKET SUFFERED SLUMP MAINLY IN Q4 2022
    * A FURTHER DOWNWARD CORRECTION IN MARKET FREIGHT RATES WAS
CONTINUED IN Q4 OF 2022
    * JINHUI SHIPPING AND TRANSPORTATION  - SUBSTANTIAL
IMPAIRMENT
LOSS ON OWNED VESSELS OF AROUND US$49 MILLION IS EXPECTED TO BE
RECOGNIZED AT END OF 2022
    * JINHUI - CONSIDERED LONG TERM INTRINSIC VALUES OF CERTAIN
OWNED
VESSELS ARE EXPECTED TO BE SIGNIFICANTLY LESS THAN THEIR
RESPECTIVE CARRYING AMOUNTS

Source text for Eikon:  ID:nObitmqj2a 
Further company coverage:  JINJ.OL 
 ((Reuters.Briefs@thomsonreuters.com;))