Goldenport Holdings Inc.
Athens, 20 July 2012
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 19 July 2012.
Operational Fleet Forward Coverage:
The percentage of available days of the fleet already fixed under contracts as of 19 July 2012 assuming the earliest charter expiration is as follows:
(1) Percentage of available days of the fleet fixed under contract as reported on 18 May 2012, being the date of the previous trading update, is given in brackets
John Dragnis, Chief Executive Officer of the Company commented:
"Our Company is in a robust financial condition with good levels of liquidity, and moderate leverage, which are critical competitive advantages in today's challenging marketplace.
We continue to maintain relatively strong forward employment for our fleet with 87% and 62% of 2012 available days covered for the container and the dry cargo fleet respectively, thus ensuring clear visibility on our cash flow but given the weak trading we are restricting new charters to shorter durations than we have in the past.
We have taken advantage of high scrap values to reinforce liquidity for a continuation of our fleet renewal program with all three vessels disposed of in 2012 being scrapped at a price above $400 per ton.
We remain confident on the future growth prospect of the Company, even in today's difficult trading environment, and we closely monitor all potential investment opportunities with our two ultimate goals of safeguarding the Company's financial position and enhancing shareholder value.
Fleet Employment Update:
New charters arranged since the last update on 18 May, are as follows:
Rate (US$) per day
11,500 + 350,000 Ballast Bonus
(1) Represents earliest day on which the charterer may redeliver the vessel
Rate (US$) per day
INTERIM RESULTS ANNOUNCEMENT
The Company's Interim Results for the six months ended 30 June 2012 are expected to be announced on Friday 31 August 2012.
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For further information, please contact
Goldenport Holdings Inc.:
John Dragnis, Chief Executive Officer +30 210 8910500
Konstantinos Kampanaros, Interim Chief Financial Officer +30 210 8910500
Investor Relations Coordinators:
Eleni Theodoropoulou - London +44 203 206 1320
Nicolas Bornozis - New York +1 212 661 7566
Overview of Goldenport
Goldenport is an international shipping company that owns and operates a fleet of container and dry bulk vessels that transport cargo worldwide. Goldenport is listed on the London Stock Exchange under the ticker GPRT.
Website: www.goldenportholdings.com or www.goldenport.biz