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Goldenport Holdings - Vessel Aquisition Print
Tuesday, 22 May 2007
goldenport.gifAcquisition of One Sub-Panamax Geared Container Vessel

Goldenport Holdings Inc. ('Goldenport' or 'the Company') announces that it has
agreed to acquire the sub-panamax geared container vessel 'Ajama', with 33,745
MT deadweight and nominal intake of 2,420 TEU. The vessel was first delivered in
1994 to Gdanska Stocznia S.A., Poland and will be purchased from the
unaffiliated third party MV Laxey Glen Ltd, of Douglas, Isle of Man for an
aggregate purchase price of US$ 36.0 million. The acquisition is financed by
cash reserves of US$ 12.5 million and an agreed loan facility of US$ 23.5
million. Upon delivery, 'Ajama' will immediately be employed under the
currently existing time-charter with Hapag Lloyd AG of Germany, at a daily rate
of US $19,000 until April 2008. The details of the charter contract that will
be entered into following the existing one will be announced in a forthcoming
trading update.

Captain Paris Dragnis, Chief Executive Officer of Goldenport, stated: 'This
acquisition strengthens our position in our preferred segment of the container
market. The 'Ajama' is a high speed, fuel efficient, geared container vessel,
with extensive trading flexibility and an excellent maintenance record. The
vessel joins our fleet in a positive market environment, and will improve the
profitability mix of our container segment.'
 
 
 
 
 
 
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