Greece: Goldenport Holdings Concludes Sale of Bulk Carrier ‘Limnos’

Goldenport Holdings Inc. announces that it has concluded the sale of the 1992-built bulk carrier ‘Limnos’, to an unaffiliated third party “Thrive Allied Limited” of Tortola, British Virgin Islands, for a cash consideration of US$ 5.7 million. The vessel was delivered to the new owners on 6 December 2012.

Goldenport expects to realize a book loss of US$ 2.7 million, after accounting for brokerage commission, book value and the unamortized balance of dry-docking expenditure.

The vessel was initially acquired in 2004 for a total consideration of US$18.8 million and has traded successfully for the Company over the last nine years.

Goldenport will utilize the proceeds to increase liquidity. The Company continues to review the market for accretive vessel acquisitions.


Goldenport Holdings, December 19, 2012