m/v vasos

Goldenport Holdings Sells Capesize Bulker

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August 21, 2013


Goldenport Holdings Inc., (LSE: GPRT) the international shipping company that owns and operates a fleet of container and dry bulk vessels announced today that it has concluded the sale of the 1990-built 152,065 dwt bulk carrier ‘Vasos’, to an unaffiliated third party “Autumn Harvest Maritime Co.” of Monrovia, Liberia, for a cash consideration of US$ 7.3 million. The vessel was delivered to the new owners on 20 August 2013.

Goldenport expects to realize a book profit of US$ 0.1 million, after accounting for brokerage commission and the residual book value of the vessel.

The vessel was initially acquired in 2006 for a total consideration of US$27.3 million and has traded successfully for the Company over the last seven years.

The net sale proceeds after repayment of associated debt will increase the level of corporate liquidity available for accretive vessel acquisitions.

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