Goldenport Holdings is a moderate-sized vessel owner and charterer, reasonably capitalised at 335m though the shares are very tightly held.

For more detailed info on the company, go to www.goldenport.biz

Thanks to the booming economies in F/E and Indian sub-continent, vessel space is at a premium with a subsequent rise in both freight rates and of course the underlying charter rates. These look to be sustainable or better for the next two years, it being to far ahead to predict beyond that.

Don't mortgage the farm, but certainly worth considering for a holding in a balanced portfolio.

This is probably when the sp adjustment happened (5th Nov) due to the new debt facility which will necessarily affect the balance sheet. I suppose the theory is that this debt is now factored in to the share price & should no longer affect capital growth:

Goldenport Holdings Inc., "(LSE:GPRT) ("Goldenport" or the "Company") announces
that it is proposing to enter into two separate transactions: firstly the
acquisition of four new-build bulk carriers of 57,000 DWT each, with delivery
dates between September and December 2009; and secondly the acquisition of two
new-build geared container vessels of 2,500 TEU nominal capacity each, with
delivery dates in October 2010 and March 2011. Goldenport will finance both
acquisitions through a mix of existing cash resources and new debt facilities."

Goldenport Holdings Inc.




Athens, 29th November 2007




Conclusion of Four New-Build Bulk-Carrier Contracts




Goldenport Holdings Inc., (LSE:GPRT) ('Goldenport' or the 'Company') announces

that as of today the Cosco Conditional Contracts for the construction of the

four new-build bulk-carrier vessels of 57,000 DWT capacity each, with a total

value of US$ 151.0 million, as described in the circular dated 5th October 2007

and approved at the EGM held on 24th October 2007, have become unconditional.

The initial deposit of US$ 30.2 million has also been paid with US$ 10.2 million

being paid from existing cash reserves and US$ 20.0 million being paid through

the drawdown of an existing credit facility.




Captain Paris Dragnis, Chief Executive Officer of Goldenport, commented: 'As a

result of these Cosco contracts becoming unconditional, a major part of our

new-build program is now in place. The contracts for the eight new-build vessels

that have been entered into since March, which include six dry-bulk carriers and

two container vessels, reinforce our position in our preferred sub-segments of

the dry-bulk and container shipping markets, enhance the earning potential of

our company for the longer term and are in line with our prudent expansion

strategy of acquiring vessels reasonably priced compared to the market

conditions. Of the six dry-bulk carriers, all of which have delivery dates

during 2008 and 2009, three have already been fixed under period employment with

high quality charterers in line with our current client portfolio.'






- ENDS -

Am I right in saying then, that they will not now be needing a new debt facitility?

With less cash reserves now & a lead time of 1-2 years for the new ships, would I also be right in saying that this may go a bit flat for a while? But with good potential once the bulk carriers are up & running.

Goldenport Holdings Inc said it expects trading for the full year ending Dec 31 to be in line with market expectations.

The shipping company said 90 pct of the available days of its total fleet for 2008 are fixed under contracts as at Jan 16.

The vessel Fortune, which is expected to be chartered by the summer, provide upside potential given that the container chartering market environment remains healthy, Goldenport said.

ATHENS, GREECE--(Marketwire - January 17, 2008) - The Board of Directors of 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, is pleased to report that trading for the full year ended 31st December 2007 is expected to be in line with market expectations. The Company's final results for the year ended 31st December 2007 will be announced on Tuesday, 26th February.

Jupiter Asset Management get more. 29 jan08

ON THE MOVE

another of mine that i had forgotten about .... for the time being i am staying away from shipping stocks, but have every hope of learning more of real trends when i meet with one of my shipping line clients in dubai in a couple of weeks .... shall report in due course

A CYNIC FLOP ON THE HOP