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The initial deposit of US$ 4.76 million is funded by cash reserves. The remaining payments will be made to the yard based on the construction process schedule and will be financed by cash reserves and the draw-down of a loan facility already committed for this project for an amount of US$ 21.7 million. Captain Paris Dragnis, Founder and Chief Executive Officer of Goldenport, commented: "We continue our selective fleet expansion and renewal program taking advantage of attractive opportunities for high quality assets. Given the resilience of the demand for dry bulk services, the acquisition of this modern Supramax vessel enhances our operational flexibility and versatility, enabling us to better service our client requirements. Our conservative strategy and our sound financial condition allowed us to finance the project at favourable terms despite the limited availability in the global credit markets. " Overview of Goldenport Goldenport is an international shipping company that owns and operates a fleet of twenty-five container and dry bulk vessels that transport cargo worldwide. The fleet consists of twelve container vessels (including two new-build vessels with deliveries scheduled for 2011) and thirteen dry bulk carriers (including six new-build vessels with deliveries scheduled for 2010 and 2011). Goldenport is listed on the London Stock Exchange under the ticker GPRT. Source: Goldenport Holdings Inc |
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