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The initial deposit of US$2.4 million was paid from cash reserves and the remaining balance is expected to be covered on delivery by the already agreed credit line held as restricted cash. Captain Paris Dragnis, Chief Executive Officer of Goldenport, commented: "This acquisition strengthens further our position in our preferred segment of the container market. The 'Clifton Bridge' is a high spec, fuel efficient container vessel, with an excellent maintenance record and we expect the vessel to trade competitively for many more years under our management. The vessel acquisition is in line with our strategy of enlarging our container fleet with well maintained second hand vessels. It is expected that the vessel will be accretive both to profitability and cash flow from delivery." 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 eleven container vessels (including one new-build vessel with delivery scheduled for 2011) and fourteen dry bulk carriers (including five 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 |
Acquisition of One Sub-Panamax