GPRT.L Regulatory News (GPRT)

11 Apr 2007 07:01

Goldenport Holdings Inc11 April 2007 Goldenport Holdings Inc. Athens, 11th April 2007 FORWARD COVERAGE AND TRADING UPDATE Goldenport Holdings Inc. ("Goldenport" or "the Company") announces the update ontrading of the fleet as of 10th April 2007. FORWARD COVERAGE 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 as of 10th April: 2007(1) (2) 2008(1) (2) 2009(1) (2)Total Fleet 88% (83%) 62% (60%) 39% (37%)Containers 100% (91%) 92% (91%) 56% (54%)Bulk Carriers 76% (75%) 25% (25%) 24% (24%) (1) Percentage of available days of the fleet fixed under contract as reported on 13 March 2007 is given in brackets(2) The percentages above do not include the vessel 'Fortune' which is under reconstruction and the two new-building bulk carriers which will be delivered in 2008 TRADING UPDATE The update on trading of the fleet as of 10th April 2007: Vessel Type Capacity Rate (US$) Charter Expiration per dayContainers TEU Earliest Latest(1)------------ ----- Fortune Post Panamax 5,551 Under reconstructionMSC Finland Sub Panamax 3,032 16,500 Feb-10 Apr-10MSC Scotland Sub Panamax 3,007 20,770 Sep-09 Nov-09MSC Socotra Sub Panamax 2,258 8,000 Jan-08 Mar-08Howrah Bridge Sub Panamax 2,257 14,180 Jul-09 Sep-09MSC Himalaya Sub Panamax 2,108 12,700 Dec-08 Jan-09Achim Handy 930 9,600 Feb-09 Apr-09Beauty (2) Handy 962 6,150 Feb-09 Apr-09MSC Emirates Handy 934 7,000 Jan-09 Feb-09Glory D Handy 946 9,600 Feb-09 Apr-09Tuas Express Feeder 485 8,900 Dec-07 Dec-08 Dry Bulk DWT---------- ----- Vasos (3) Capesize 152,065 50,000 May-07 May-07 23,950 Feb-11 Aug-12Samos Capesize 136,638 22,750 May-07 Jun-07Ios Panamax 69,737 12,500 Sep-07 Sep-07Gianni D Panamax 69,100 26,000 Sep-07 Nov-07Athos Panamax 67,515 16,750 Jun-07 Sep-07New Building 1(4) Supramax 53,800 18,000 Q3, 2011 Q3, 2011New Building 2 (4) Supramax 53,800 To be delivered in 2008Vana (5) Handymax 53,522 17,800 Apr-07 Apr-07Alex D (6) Handymax 52,315 26,000 Apr-07 Apr-07Limnos (6) Handymax 52,266 30,000 Apr-07 Apr-07Lindos Handymax 52,266 14,500 Jul-09 Nov-09Tilos Handymax 52,266 26,000 Apr-07 Apr-07 27,750 Aug-07 Nov-07 (1) Represents last day on which the charter may redeliver the vessel assuming exercise of all additional hire periods under charter(2) To be renamed to MSC Mekong(3) Charterer has an option to extent for another 12 months after the initial period of 45 to 51 months(4) 50% owned through a joint venture, both vessels to be delivered in 2008(5) Goldenport is in firm negotiations to sell the vessel Vana, to an unaffiliated third party after the completion of the current charter(6) Goldenport is in advanced negotiations to extend or re-charter the vessels Alex D and Limnos - ENDS - For further information, please contact Goldenport Holdings Inc. Christos Varsos, Chief Financial Officer +30 210 8910500 John Dragnis, Commercial Director +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 twelve dry bulk carriers and eleven container vessels. Goldenport islisted on the London Stock Exchange under ticker GPRT. Selected Financial Information Goldenport reported revenues of US$90.7 million, EBITDA of US$54.9 million andnet income of US$45.2 million for the year ended 31 December 2006. Goldenportalso proposed final dividend of 11.9 pence per share (17.5 pence total dividendfor 2006, including interim dividend of 5.6 pence already been paid in October2006). 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 thefollowing 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 Exchange