26 Jan 2009 07:00
Goldenport Holdings Inc.
Athens, 26th January 2009
Rescheduling of Vessel Deliveries at No Additional Cost
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 an agreement was reached with COSCO (Zhoushan) Shipyard Co., Ltd, to reschedule the delivery dates of the four new-build 57,000 DWT bulk carriers on order with the yard, at no additional cost.
Pursuant to the rescheduling, the delivery dates for those four vessels will now take place between four and eighteen months after their originally agreed delivery dates in late 2009. Two vessels are now expected to be delivered in the first half 2010 and the other two in the first half of 2011. The existing charter contracts remain valid and will commence upon delivery of the respective vessels.
The above rescheduling was agreed at no additional cost to the Company and the already secured bank financing remains in place. Taking delivery at a later time, when market conditions may have improved, enables Goldenport to optimise its cash flow utilisation during the current challenging market conditions.
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Goldenport Holdings Inc.:
Christos Varsos, Chief Financial Officer +30 210 8910500
John Dragnis, Commercial Director +30 210 8910500
Investor Relations Coordinators:
Capital Link
Annie Evangeli - London +44 203 206 1320
Nicolas Bornozis - New York +1 212 661 7566
E-mail goldenport@capitallink.com
Website: www.goldenportholdings.com or www.goldenport.biz