Goldenport to sell entire fleet to Dragnis-related companies

Goldenport to sell entire fleet to Dragnis-related companies

London-listed Goldenport Holdings plans to sell its entire fleet back to entities controlled by founding family Dragnis and to dissolve the listed firm. The deal is subject to creditors allowing the debt to change hands.

The company has six bulkers and two boxships.

A two thirds majority will be needed among shareholders at an extraordinary general meeting to be held of March 31.

Robert Crawley, Goldenport’s non-executive chairman, said in a letter to shareholders: “The proposed transaction would not only eliminate the risk of securing employment for the vessels, but also reduce cash outflows associated with operating expenses related to the vessels while they remain idle.”

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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