Acquisition of a Container Vessel

Athens, 19 April 2010


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 that it has agreed to acquire the sub-panamax container vessel 'Grand Vision', with 44,013 MT deadweight and nominal intake of 2,986 TEU. The vessel was first delivered in 1991 to Daewoo Shipbuilding Co. Ltd in South Korea and will be purchased from the unaffiliated third party, Crom Maritime Inc of Liberia, for an aggregate purchase price of US$ 6.75 million. The acquisition initially is to be financed by cash reserves, but the Company is in advanced negotiations to secure finance of at least half of the vessel's value.

The vessel is expected to be delivered to the Company in May 2010, at which time it will commence operations. Employment details will be released following the delivery of the vessel.

Captain Paris Dragnis, Founder and Chief Executive Officer of Goldenport, commented: "Continuing our prudent fleet expansion strategy, we are pleased to take advantage of current market conditions in the container market and add a second-hand container vessel to our fleet at an attractive acquisition price. This well timed and well priced acquisition strengthens our position in our preferred segment of the container market thus enhancing the potential returns we can achieve with our container fleet."

Overview of Goldenport
Goldenport is an international shipping company that owns and operates a fleet of twenty-four container and dry bulk vessels that transport cargo worldwide. The fleet consists of eleven container vessels (including the acquisition mentioned above and one new-build vessel with delivery 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