GPRT.L Regulatory News (GPRT)

19 Oct 2007 09:08

Goldenport Holdings Inc19 October 2007 Goldenport Holdings Inc. Athens, 19th October 2007 Vessels acquisition Acquisition of two Geared Container Vessels Goldenport Holdings Inc., (LSE:GPRT) ("Goldenport" or the "Company") announcesthat it has agreed to acquire en-bloc the sister geared container vessels'Gitte' and 'MOL Brilliant', with 9,868 MT deadweight and nominal intake of 976TEU each. The vessels were first delivered in December 1992 by Orskov shipyardin Denmark and will be purchased from the unaffiliated third party K/S DMK-Farec/o DMK - Holdings A/S, Denmark for an aggregate purchase price of US$ 28.625 million. The acquisition will be financed by cash reserves of US$ 9.875 millionand an agreed loan facility of US$ 18.75 million. Upon delivery, 'Gitte' will immediately be employed under the currently existingtime-charter with Maersk Line at a daily rate of US$ 11,385 until April 2008,with an option to extend for additional six months at a daily rate of US$ 12,400. Upon delivery, 'MOL Brilliant' will be immediately employed under thecurrently existing time-charter with Mitsui O.S.K. at a daily rate of US$10,280until August 2008. Both vessels are high speed, fuel efficient, geared container vessels, with extensive trading flexibility and an excellentmaintenance record. Furthermore the vessel 'Gitte' will be delivered to theCompany after completion of her scheduled dry-docking. Captain Paris Dragnis, Chief Executive Officer of Goldenport, stated: "Bothacquisitions strengthen further our position in one sub-segment of thecontainers market in which we have always been present, enhancing the service provided to our major customers. The two vessels come into the fleet withexisting employment with high quality charterers in line with our currentclient portfolio." - ENDS - For further information, please contact Goldenport Holdings Inc. Christos Varsos, Chief Financial Officer +30 210 8910500 John Dragnis, Commercial Director +30 210 8910500 Investment Relations Co-ordinators: Global: Capital linkNicolas Bornozis +1 212 661 7566 UK: 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 sixteen container vessels (includingthe vessels mentioned above). Goldenport is listed on the London Stock Exchangeunder ticker GPRT. This information is provided by RNS The company news service from the London Stock Exchange