Heavy impairment charges made a deep impact on Jinhui Shipping & Transportation’s annual result, which sank to a deeper loss.

The Oslo-listed shipowner recognised a $14m impairment loss on its owned fleet of supramax bulkers plus a loss of $5.7m on right-of-use assets. This is almost half as much as was recognised in impairments in 2022, following the sale of several older ships last year.