GPRT.L Regulatory News (GPRT)

Goldenport Holdings Inc.

Athens, 18 May 2012

INTERIM MANAGEMENT STATEMENT

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 today the update on the trading of its fleet as of 17 May 2012 and the Interim Management Statement covering the quarter to 31 March 2012.

Operational Fleet Forward Coverage:

The percentage of available days of the fleet already fixed under contracts as of 17 May 2012 assuming the earliest charter expiration is as follows:

(1) Percentage of available days of the fleet fixed under contract as reported on 7 March 2012, being the date of the last trading update, is given in brackets

CEO Statement:

John Dragnis, Chief Executive Officer of the Company commented:

"The first quarter of 2012 was one of the most challenging periods for the Company since its initial public listing in April 2006.

"Goldenport has traded well across both segments of its business during the first quarter of 2012, given the exceptionally challenging dry bulk sector. Despite the difficult markets, which are mainly due to the excess supply of tonnage and the high cost of fuel, we have managed to keep our vessels employed on cash flow generative terms. We are considering the option of selective replacement of our older tonnage and taking advantage of the attractive current scrap rates.

"As of today, our operational fleet consists of 25 vessels, of which 12 are containers and 13 dry-bulk carriers. For our combined operational fleet of containers and dry bulk carriers we have secured forward coverage with 62% of the fleet available days for 2012 fixed under time charter employment, assuming earliest charter expiration. This translates into strong and visible cash flows.

"Our Company remains in a strong financial condition. As of 31 March 2012 our net debt to book capitalisation was 46%, a moderate figure for our industry. Liquidity headroom of the Company remains at high levels. This has been boosted at the end of March 2012 by the disposal of vessel Alex D.

"The outlook for the remainder of 2012 continues to be challenging because of uncertainty over the development of the fundamentals in the dry bulk and container sectors as well as the overall direction of the global economy. Our business strategy has always been and remains that of prudent growth but, in these uncertain times, we remain focused on safeguarding the value we have created for our shareholders. While we are always alert to take advantage of accretive fleet expansion and renewal opportunities as these may occur, we are currently considering the selective replacement of our older tonnage given the attractive current scrap rates to assist in our fleet renewal program.

Fleet Employment Update:

New charters arranged since the last update on 7 March, are as follows:

First Quarter 2012, Selected Financial and Operating Data:

First Quarter 2012, Review of Operations:

The expanded fleet of the Company, following the delivery of all vessels from the initial new building program, achieved utilisation of 89.3%. Fleet utilisation would have been higher but the warm lay up of vessel Bosporus Bridge and the high fuel cost, which makes the re-positioning of vessels to more marketable ports unprofitable, affected the percentage of vessels fixed during the first quarter albeit we expect improvement on utilisation rates.

During the first quarter of 2012 the Company concluded the sale of the 1989-built bulk carrier 'Alex D', to the unaffiliated third party "Sea Charm Shipping Inc." of Monrovia, Liberia, for a cash consideration of US$ 6.7 million. The vessel was delivered to the new owners on 26 March 2012. Goldenport realized a profit of US$ 3.4 million, after accounting for brokerage commission, book value and the unamortized balance of dry-docking.

The Company has repaid US$8.8 million of bank debt in this period.

Following the above repayments, the net debt, as of 31 March 2012, was US$ 228.1 million (US$ 238.6 million as of 31 December 2011) and the net debt to book capitalisation was 46% (47% as of 31 December 2011).

- ENDS -

For further information, please contact

Goldenport Holdings Inc.:

John Dragnis, Chief Executive Officer +30 210 8910500

Konstantinos Kampanaros, Interim Chief Financial Officer +30 210 8910500

Investor Relations Coordinators:

Capital Link:

Eleni Theodoropoulou - London +44 203 206 1320

Nicolas Bornozis - New York +1 212 661 7566

E-mail: goldenport@capitallink.com

info@goldenport.biz

Further Information:

Overview of Goldenport

Goldenport is an international shipping company that owns and operates a fleet of container and dry bulk vessels that transport cargo worldwide. Goldenport is listed on the London Stock Exchange under the ticker GPRT.

Website: www.goldenportholdings.com or www.goldenport.biz