GPRT.L Regulatory News (GPRT)

Goldenport Holdings Inc.

Athens, 16 February 2012

TRADING UPDATE

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 15 February 2012.

Operational Fleet Forward Coverage:

The percentage of available days of the fleet already fixed under contracts as of 15 February 2012 assuming the earliest charter expiration is as follows:

(1) Percentage of available days of the fleet fixed under contract as reported on 8 November 2011, being the date of the previous trading update, is given in brackets

CEO Statement:

Captain Paris Dragnis, Founder and Chief Executive Officer of Goldenport commented:

"Our Company is in a sound financial condition with strong liquidity, and moderate leverage, which are critical competitive advantages in today's challenging marketplace.

Our well established relationships with major international charterers enable us to maintain employment for our fleet, with almost half of the available days for 2012 already fixed under period employment, assuming earliest charter expiration.

Access to financing from international shipping banks, allows us to take advantage of market opportunities further enhancing our ability to generate shareholder value for the longer term.

The share price performance neither reflects the underlying value of our assets nor the successful execution of our prudent fleet renewal strategy. Positive developments such as our increased dividend payout, our enlarged operational fleet and our strong balance sheet, seem to be disconnected from the current share price, which has already absorbed the recent market weakness. On this basis it is our current intention to continue with our buy-back program in 2012, as we believe that this will enhance shareholders' value.

Continuing with our prudent fleet renewal strategy, we are pleased to report the addition of a second-hand 1,129 TEU geared container vessel to our fleet at an attractive acquisition price which provides down-side protection to the investment for our Company. This well priced acquisition strengthens our position in a sub-segment of the containers market in which we have always been active. This will improve the service we provide to our major customers, thus enhancing the potential returns we can achieve with our container fleet. The vessel is expected to commence operations in February as soon as it completes dry-docking.

We remain cautious given the current market conditions, but also alert to take advantage of additional investment opportunities as they may arise. Our strong cash balance and extended operational fleet with a younger age profile, allows us to be confident in the prospects of our Company."

Fleet development:

Goldenport has acquired a controlling interest in the geared handy container vessel 'HC Maria', with 18,423 MT deadweight and nominal intake of 1,129 TEU. The vessel was first delivered in 1996 to Gdynia Stocznia SA in Poland and was purchased from the unaffiliated third party, HC Maria Schiffahrts GmbH & Co. KG, for an aggregate purchase price of US$ 4.75 million. The acquisition was initially financed by cash reserves, but the Company is in negotiations to secure finance of at least half of the vessel's value.

The vessel has already been delivered to the Company and was renamed "Paris Jr". It is expected to commence operations within February following the completion of a scheduled dry-docking.

Buy-Back:

The share capital of the Company consists of 91,288,554 shares of common stock with a nominal value of US$0.01 each. The Company holds 427,887 shares in treasury; therefore the total number of voting rights in the Company is 90,860,667.

The Company has a strong balance sheet which facilitates both shipping investments and any future share buy-back purchases. In this respect and based on the return on capital opportunity implied by the current share price, the Board believes that the continuation of the share buy-back program is an appropriate use of its cash. 

FULL YEAR 2011 RESULTS

Goldenport would also like to report that the results for the full year ended 31 December 2011 are expected to be in line with management expectations. The Company's final results for the year ended 31 December 2011 will be announced on Wednesday 7 March 2012.

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For further information, please contact

Goldenport Holdings Inc.:

John Dragnis, Commercial Director +30 210 8910500

Christos Varsos, Chief Financial Officer +30 210 8910500

Investor Relations Coordinators:

Capital Link:

Eleni Theodoropoulou - London +44 203 206 1322

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 twenty-six container and dry bulk vessels that transport cargo worldwide. The fleet consists of twelve container vessels and fourteen dry bulk carriers. Goldenport is listed on the London Stock Exchange under the ticker GPRT.

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