Goldenport Acquires 2,100 TEU Containership, Conti Seattle

Image by Manuel Hernandez Lafuente, via shipspotting.com

International cargo shipper Goldenport Holdings Inc. (LSE: GPRT) announced today that it has agreed to acquire the sub-Panamax, 2,100 TEU container vessel Conti Seattle, for a purchase price of US$ 5.2 million.

John Dragnis, Chief Executive Officer of Goldenport, commented: “Continuing our fleet renewal strategy, we are pleased to add a second-hand container vessel to our fleet at an attractive acquisition price. Following our recent profitable scrap related disposals, the Company is utilising part of the cash surplus generated by the sales to proceed with this acquisition. This will strengthen its position in the container market and enhance the potential returns we can achieve with our container fleet.”

The GL-classed Conti Seattle was built in 1997 by Korea Heavy Industries in South Korea and will be purchased from an unaffiliated third party, Conti Clarissa Schiffahrts- Gmbh & Co. KG MS “Conti Seattle” of Germany. Initially, the acquisition is to be financed by cash reserves, but Goldenport is in advanced negotiations to secure bank finance of at least half of the vessel’s value.

The vessel is expected to be delivered on 29 August 2012.

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