Goldenport Sells ‘MSC Socotra’

Goldenport Holdings Inc. has agreed the sale of the 1995 built container vessel ‘MSC Socotra’ to NKD Maritime Limited of Essex, United Kingdom, for a cash consideration of USD 11.3 million.

The vessel delivery to the new owners has been scheduled to take place by the end of April 2014.

Goldenport expects to realize a book profit of USD 3 million on the sale, after accounting for brokerage commission and book value.

In line with its strategy to phase out its containership fleet over time, Goldenport has taken advantage of the current strong scrap prices and has sold one of its older vessels, thereby further reducing the average age of its fleet and enhancing operating and cash flow generating efficiency.

The net sale proceeds will be applied towards the repayment of debt secured against the vessel and increasing the level of corporate liquidity.

[mappress]

goldenport, April 3, 2014