Air Cargo Quarterly
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Goldenport Sells Container Vessel
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 that it has concluded the sale of the 1992-built container vessel ‘MSC Scotland’, to an unaffiliated third party “Joplin Overseas Investments Ltd” of Road Town Tortola, British Virgin Islands, for a cash consideration of US$ 6.5 million. The vessel was delivered to the new owners on 14 May 2013. Goldenport expects to realize a book loss of US$ 1.8 million, net of commissions.
The vessel was initially acquired in 2006 for a total consideration of US$14.4 million and has traded successfully with the Company for the last seven years, resulting in a cumulative adjusted Ebitda (excluding non-cash items) of US$21.8 million during that period.
Goldenport will utilize the proceeds to increase liquidity. The Company continues to review the market for accretive vessel acquisitions.
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