12th Jul 2006 07:30
Goldenport Holdings Inc12 July 2006 Goldenport Holdings Inc. Athens, 12th July 2006 Trading Update Goldenport Holdings Inc. ("Goldenport" or "the Company") announces the update ontrading of the fleet as of 12th July 2006. Rate (US$)Vessel Type Capacity per day Charter ExpirationContainers TEU Earliest Latest(1) Fortune Post Panamax 5,551 Under repairsBengal Sea / MSC Scotland (2) Sub Panamax 3,007 22,500 Sep-06 Sep-06 20,770 Sep-09 Nov-09MSC Socotra Sub Panamax 2,258 15,000 Sep-06 Sep-06 8,000 Jan-08 Mar-08Howrah Bridge Sub Panamax 2,257 14,400 Jan-07 Mar-07MSC Himalaya Sub Panamax 2,108 12,700 Dec-08 Jan-09Achim Handy 930 10,450 Feb-09 Apr-09Beauty Handy 962 7,300 Feb-07 Apr-07MSC Emirates Handy 934 9,000 Jan-07 Jan-07Glory D Handy 946 10,450 Feb-09 Apr-09Tuas Express Feeder 485 8,900 Dec-07 Dec-08 Dry Bulk DWT Vasos (ex. Orient Alliance)(3) Capesize 152,065 16,000 Feb-07 May-07 23,950 Dec-10 Jun-12Samos Capesize 136,638 15,750 Apr-07 Jun-07Ios Panamax 69,737 12,500 Feb-07 Jun-07Gianni D Panamax 69,100 16,500 Sep-06 Sep-06Athos Panamax 67,515 16,750 Jun-07 Sep-07Vana (4) Handymax 53,522 10,000 Jul-06 Jul-06 14,000 Aug-06 Aug-06Alex D (4) Handymax 52,315 12,000 Jul-06 Jul-06Limnos (4) Handymax 52,266 18,500 Aug-06 Aug-06Lindos Handymax 52,266 14,500 Jul-09 Nov-09Tilos Handymax 52,266 26,000 Sep-06 Jan-07 (1) Represents last day on which the charter may redeliver the vessel assuming exercise of all additional hire periods under charter(2) Bengal Sea upon expiry of the remaining time charter in September 2006 will be renamed to MSC Scotland(3) Charterer has an option to extent for another 12 months after the initial period of 45 to 51 months(4) Goldenport is in advanced negotiations to extend or re-charter the vessels Vana, Alex D and Limnos The percentage of available days of the fleet already fixed under contracts(assuming latest charter expiration and exercise of all additional hire periodsunder charter) is as follows: 2006 2007 2008Total Fleet 90% 58% 43%Containers 100% 74% 60%Bulk Carriers 81% 42% 24% The interim results to 30th June 2006 including an update on the Company'sperformance will be released in early September. - ENDS - For further information, please contact Goldenport Holdings Inc. Christos Varsos Chief Financial Officer +30 210 8910500 John Dragnis Commercial Manager +30 210 8910500 Smithfield: John Kiely / Will Swan +44 (0)20 7360 4900 Further Information Overview of Goldenport Goldenport is an international shipping company that owns and operates a fleetof dry bulk and container vessels that transport cargo worldwide. The fleetconsists of ten dry bulk carriers and ten container vessels. Goldenport islisted on the London Stock Exchange under ticker GPRT. Selected Financial Information Goldenport reported revenues of US$83.6 million, EBITDA of US$53.8m and netincome from continuing operations of US$43.3 million for the year ended 31December 2005. Goldenport's strategy Goldenport's primary objective is to manage its fleet in a manner that allows itto maximise returns for shareholders and maintain profitability across theshipping cycle. To accomplish this objective, Goldenport has identified the following strategies, which build upon its existing strengths: • Employment of vessels in a manner that provides stable cash flows • Effective management of the size and nature of the fleet with a view to expansion of the company • Maintain exposure to both the dry bulk and container sectors • Attraction and retention of blue-chip customers • Capitalise on established reputation • Maintenance of a strong balance sheet with low leverage This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GPRT.L