Jinhui Holdings has cashed out from two property investments in its bid to improve its liquidity position.
The bulk carrier owner has sold some offices and a car park in Hong Kong for HKD 97.5m ($12.6m) in total.
According to the contracts signed with purchaser Vantage Asia, the first sale will be completed by January and the second by March 2017.
Jinhui expects to book a gain of HKD 15.2m from these two sales.
It added net proceeds would be used for working capital purposes as part of its strategy of offloading non-core assets.
Jinhui reported a net third quarter loss of $28.5m, which included an impairment charge of $25m.
As most bulk carrier owners, Jinhui has been facing depressed freight markets and low rates.
The Hong Kong-based company has sold two bulk carriers in September and October.
