1 Nov 2012 07:00
Goldenport Holdings Inc.
Athens, 01 November 2012
Sale of a Bulk Carrier
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 1991-built bulk carrier 'Tilos', to an unaffiliated third party "Gunehr Shipping Limited" of Charlestown, Nevis, for a cash consideration of US$ 5.9 million. The vessel was delivered to the new owners on 31 October 2012.
Goldenport expects to realize a book loss of US$ 2.2 million, after accounting for brokerage commission, book value and the unamortized balance of dry-docking expenditure.
The vessel was initially acquired in 2004 for a total consideration of US$14.8 million and has traded successfully for the Company over the last nine years. The net proceeds of this sale increases the cash reserves available to the Company for funding the future acquisition of vessels when suitable opportunities arise.
Following the replacement of older tonnage, the Company's young bulk carrier fleet will operate with greater cash flow generating efficiency when the freight market recovers.
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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 (following the sale mentioned above) a fleet of twenty-three container and dry bulk vessels that transport cargo worldwide. The fleet consists of twelve container vessels and eleven dry bulk carriers. Goldenport is listed on the London Stock Exchange under the ticker GPRT.
Website: www.goldenportholdings.com or www.goldenport.biz