3rd Jun 2009 07:00
Goldenport Holdings Inc.
Athens, 3 June 2009
Sale of vessel with a book profit of US$ 11.1 million
Goldenport Holdings Inc. ("Goldenport" or "the Company"), (LSE: GPRT) the international shipping company that owns and operates a fleet of container and dry bulk vessels announces that it has concluded the sale of the Panamax dry bulk carrier 'Gianni D', to the unaffiliated third party "Intrigue Shipping Inc" of Liberia, for a cash consideration of US$ 20.0 million. The vessel is expected to be delivered charter free to the new owners by mid-August 2009.
Goldenport expects to realize a book profit of US$ 11.1 million, after accounting for brokerage commission and the unamortized balance of dry-docking.
The vessel is essentially debt free and Goldenport will utilize the sale proceeds to further strengthen its already strong balance sheet.
Captain Paris Dragnis, Chief Executive Officer of Goldenport, commented:
"Within the context of our continued fleet renewal, we are pleased to take advantage of the recent rebound in the dry cargo market and realize an attractive profit on the sale of 'Gianni D'. Our dry bulk fleet now includes 1 Capesize and 12 Supramax vessels, of which 7 are new-buildings with deliveries due to be completed by 2011.
"Our strong forward time charter coverage in both segments in which we operate, our new-building program and our strong balance sheet, enable us to feel confident about the future growth prospects of our business even in today's difficult environment and puts us in a position to take advantage of accretive fleet expansion opportunities as these may occur."
- ENDS -
Goldenport Holdings Inc.:
Christos Varsos, Chief Financial Officer +30 210 8910500
John Dragnis, Commercial Director +30 210 8910500
Investor Relations Coordinators:
Capital Link
Annie Evangeli - London +44 (0) 203 206 1320
Nicolas Bornozis - New York +1 212 661 7566
E-mail: [email protected]
Further Information:
Overview of Goldenport
Goldenport is an international shipping company that owns and operates a fleet of twenty-nine (after the sale mentioned above) container and dry bulk vessels that transport cargo worldwide. The fleet consists of sixteen container vessels (including two new-build vessels with deliveries scheduled for 2010 and 2011) and thirteen dry bulk carriers (including seven new-build vessels with deliveries scheduled for 2009, 2010 and 2011). Goldenport is listed on the London Stock Exchange under the ticker GPRT.
Website: www.goldenportholdings.com or www.goldenport.biz
Related Shares:
GPRT.L