Goldenport sells oldest bulk carrier

London: London-listed Goldenport Holdings has sold a 21-year-old bulk carrier to UK-based OPES Shipping for $4m.

The vessel, Golden Trader (48,170 dwt, built 1994) was the oldest in the Athens-based company’s fleet and was delivered to its new owners yesterday.

The divestment is part of Goldenport’s strategy to phase out older vessels to reduce the average age of its fleet and create efficiencies in its operating and cash flow.

Goldenport says it has taken a non-cash impairment charge of $5.5m against the book value of the vessel in its year-end financial statement for 2014.

The Dragnis-led company expects to realise a book loss of $200,000 on the sale in its 2015 results after accounting for brokerage commission and the vessel’s residual book value.

Net proceeds from the sale will go towards repayment of debt secured against the vessel and increasing the level of corporate liquidity, Goldenport said in a statement today.

The sale leaves Goldenport with a fleet of nine bulk carriers, all of which were built after 2009, and seven small containerships that average around 20 years of age.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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