GPRT.L Regulatory News (GPRT)

6 May 2008 07:03

Goldenport Holdings Inc06 May 2008 Goldenport Holdings Inc. Athens, 6th May 2008 Sale of Vessel Goldenport Holdings Inc. ("Goldenport" or "the Company"), (LSE: GPRT) theinternational shipping company that owns and operates a fleet of container anddry bulk vessels announces that it has concluded the sale of the 69,737 DWT,1981-built bulk carrier 'Ios', to the unaffiliated third party "East SunriseShipping Holding Limited" of Hong Kong, for a cash consideration of US$ 16.8million. The vessel was delivered to the new owners along with the balance ofthe existing time charter at US$ 26,000 per day until June 2009. 'Ios' was fully depreciated to her scrap value with a net book value in thefinancial statements as at the day of the sale of US$ 3.7 million including theunamortized balance of dry-docking costs. Consequently, Goldenport Holdingsrealised a book profit of US$ 12.8 million net of commissions. Goldenport will utilize the proceeds realised from the sale to fund futurevessel acquisitions. Captain Paris Dragnis, Chief Executive Officer of Goldenport, commented: "Thesale of "Ios" is part of the Company's fleet growth, renewal strategy andmaximising its profit potential. The profit from the sale of the fullydepreciated vessel 'Ios, will allow us to fund further vessels acquisitions,expanding the economic life of our fleet". ENDS - Goldenport Holdings Inc.: Christos Varsos, Chief Financial Officer +30 210 8910500John Dragnis, Commercial Director +30 210 8910500 Investment Relations Coordinators: Capital Link - London +44 207 614 2900Capital Link - New York +1 212 661 7566 Nicolas Bornozis goldenport@capitallink.com Further Information: Overview of Goldenport Goldenport is an international shipping company that owns a fleet of thirty-twocontainer and dry-bulk vessels (after the sale of the bulk carrier vesselmentioned above) that transport cargo worldwide. The fleet consists of eighteencontainer vessels (including two new-build vessels with deliveries scheduled for2010 and 2011) and fourteen dry-bulk carriers (including six new-build vesselswith deliveries scheduled for 2008 and 2009). Goldenport is listed on the LondonStock Exchange under the ticker GPRT. Website: www.goldenportholdings.com or www.goldenport.biz This information is provided by RNS The company news service from the London Stock Exchange