11th Oct 2006 07:00
Goldenport Holdings Inc11 October 2006 Goldenport Holdings Inc. Athens, 11th October 2006 Fleet Employment Profile Goldenport Holdings Inc. ("Goldenport" or "the Company") announces the update on trading of the fleet as of 10th October 2006. Vessel Type Capacity Rate Charter Expiration (US$) per dayContainers TEU Earliest Latest(1)Fortune Post 5,551 Under repairs PanamaxMSC Scotland Sub 3,007 20,770 Sep-09 Nov-09 PanamaxMSC Socotra Sub 2,258 8,000 Jan-08 Mar-08 PanamaxHowrah Bridge Sub 2,257 14,400 Jan-07 Mar-07 PanamaxMSC Himalaya Sub 2,108 12,700 Dec-08 Jan-09 PanamaxAchim Handy 930 10,450 Feb-09 Apr-09Beauty Handy 962 7,300 Feb-07 Apr-07MSC Emirates Handy 934 9,000 Jan-07 Jan-07 7,000 Jan-09 Feb-09Glory D Handy 946 10,450 Feb-09 Apr-09Tuas Express Feeder 485 8,900 Dec-07 Dec-08 Dry Bulk DWT Vasos (2) 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 26,000 Sep-07 Nov-07Athos Panamax 67,515 16,750 Jun-07 Sep-07Vana Handymax 53,522 16,250 Nov-06 Feb-07Alex D (3) Handymax 52,315 28,500 Oct-06 Oct-06Limnos Handymax 52,266 19,200 Dec-06 Dec-06Lindos Handymax 52,266 14,500 Jul-09 Nov-09Tilos(3) Handymax 52,266 27,500 Nov-06 Nov-06 (1) Represents last day on which the charter may redeliver the vesselassuming exercise of all additional hire periods under charter(2) Charterer has an option to extent for another 12 months after theinitial period of 45 to 51 months(3) Goldenport is in advanced negotiations to extend or re-charter thevessels Tilos and Alex D The percentage of available days of the fleet already fixed under contracts (assuming latest charter expiration and exercise of all additional hire periods under charter) is as follows: 2006 2007 2008Total Fleet 98% 69% 49%Containers 100% 84% 71%Bulk Carriers 97% 53% 24% - 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$39.8 million, EBITDA of US$25.1 million andnet income of US$21.7 million for the six months ended 30 June 2006. Goldenportalso declared interim dividend of 5.6 pence per share (making an interim payoutof £ 3.9 million), which was paid on October 4th 2006. 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