GPRT.L Regulatory News (GPRT)

22 May 2007 07:01

Goldenport Holdings Inc22 May 2007 Goldenport Holdings Inc. Athens, 22nd May 2007 Vessel Acquisition Acquisition of One Sub-Panamax Geared Container Vessel Goldenport Holdings Inc. ("Goldenport" or "the Company") announces that it hasagreed to acquire the sub-panamax geared container vessel 'Ajama', with 33,745MT deadweight and nominal intake of 2,420 TEU. The vessel was first delivered in1994 to Gdanska Stocznia S.A., Poland and will be purchased from theunaffiliated third party MV Laxey Glen Ltd, of Douglas, Isle of Man for anaggregate purchase price of US$ 36.0 million. The acquisition is financed bycash reserves of US$ 12.5 million and an agreed loan facility of US$ 23.5million. Upon delivery, 'Ajama' will immediately be employed under thecurrently existing time-charter with Hapag Lloyd AG of Germany, at a daily rateof US $19,000 until April 2008. The details of the charter contract that willbe entered into following the existing one will be announced in a forthcomingtrading update. Captain Paris Dragnis, Chief Executive Officer of Goldenport, stated: "Thisacquisition strengthens our position in our preferred segment of the containermarket. The 'Ajama' is a high speed, fuel efficient, geared container vessel,with extensive trading flexibility and an excellent maintenance record. Thevessel joins our fleet in a positive market environment, and will improve theprofitability mix of our container segment." - 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 eleven dry bulk carriers and twelve container vessels (including thevessel mentioned above). Goldenport is listed on the London Stock Exchange underticker GPRT. This information is provided by RNS The company news service from the London Stock Exchange