View Issue #585 Now!
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.
American Journal of Transportation
116 Court Street, Suite 5
Plymouth, MA 02360
© Copyright 1999–2014 American Journal of Transportation.All Rights Reserved.