10th Apr 2015 08:12
LONDON (Alliance News) - Shipping company Goldenport Holdings Inc on Friday said it has sold a dry bulk vessel for USD4 million but said it will take a non-cash impairment charge on the sale in its 2014 results.
Goldenport said it has sold the Golden Trader vessel to Essex-based OPES Shipping Ltd for USD4 million in cash. It will book a USD5.5 million non-cash impairment charge against the book value of the vessel in its 2014 results and expects to book a USD0.2 million book loss on the sale in its 2015 results after accounting for brokerage commission and its residual book value.
The proceeds of the sale will be used to repay debt secured on the vessel and to boost its corporate liquidity.
Goldenport will publish its results for the year to the end of December on April 30.
Shares in the company were untraded Friday morning, having last traded at 120.48 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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