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.

Goldenport Holdings Inc was admitted in the Official List and started trading on the London Stock Exchange on 5 April 2006 with ticker GPRT. The offer was for 60 million excluding the Over-Allotment option. On 11th April 2006 the Over Allotment option was exercised providing the Company with a total of 66 million (or $115.5 million), which were raised in order to partially repay debt and for fleet expansion.

Upon admission the Company owned and operated 17 vessels consisting of nine dry bulk carriers that had cargo-carrying capacities ranging from 52,266 to 136,638 DWT and eight container vessels that have cargo-carrying capacities ranging from 485 to 2,258 TEU.

Effective 19th of June 2006 the stock was included in the FTSE Small Cap and FTSE All-Share Indices of the London Stock Exchange.

Tue 11 Sep 2007 12:12
Shipping company Goldenport Holdings posted strong interim figures and said it remains confident on the outlook of the dry-bulk and container markets for 2007.

Underlying profit rose 44.6% to $36.4m on revenue that increased 44.5% to $57.5m. Interim dividend increased 25% to 7p per share.

The group said the recovery in the dry-bulk market in 2007 enabled it to conclude bulk-carrier charters at significantly higher rates than those in the same period last year.

"Our fleet is favourably positioned to take advantage of the booming dry bulk and container markets and to strongly support our financial performance in 2007 and well beyond, creating a platform of growth until the majority of the new build vessels become operational," said the group.

LONDON (Thomson Financial) - Goldenport Holdings Inc said a major part of its new-build programme is now in place as the Cosco contracts for the construction of four new-build bulk-carrier vessels have become unconditional.

The initial deposit of 30.2 mln usd has been paid, the shipping company said.

Goldenport added that the contracts for the eight new-build vessels entered into since March, including six dry-bulk carriers and two container vessels, enhance the earnings potential of the company for the longer term.

Of the six dry-bulk carriers, with delivery dates during 2008 and 2009, three have been fixed under period employment, it added.
29 nov 07.

Shares of drybulk shippers jumped on Friday as the cost of chartering vessels extended its advance, a sign that the global economy -- powered in large part by China -- is expanding at a smart pace.

Drybulk future rates were up about 17% from last week with an average Capesize rate at $137,000 per vessel per day, up from $116,000, said Cantor Fitzgerald analysts. Meanwhile, spot rates for Capesize vessels, which are the largest ships, shot up on Friday to $177,418, up 2.9%, from $172,369 on Thursday, but down slightly from last week. A year ago, however, the rate was below $68,000.

One reason may be that the worlds largest iron ore producer, Brazils Companhia Vale do Rio Doce (nyse: RIO - news - people ), said on Thursday that it had begun discussions with its customers over iron-ore prices for next year. China is the worlds biggest iron importer, and it gets 24% of its needs from Brazil. Analysts and investors are expecting significant price increases for iron ore in 2008, indicating strong demand. In turn, dry bulk forward rates for 2008 are also showing increases.

On Friday, dry bulk shipping stocks shot up, with those most exposed to the spot market posting the biggest rises.

DryShips (nasdaq: DRYS - news - people ), which is heavily exposed to spot rates, saw its shares jump 5.0%, or $4.52, to $94.48 at the close, while Diana Shipping (nyse: DSX - news - people ) shot up 4.5%, or $1.52, to $35.41. Excel Maritime (nyse: EXM - news - people ) rose 1.4%, or 76 cents, to $53.54; Quintana Maritime (nasdaq: QMAR - news - people ) gained 3.1%, or 79 cents, to $26.55; and Euroseas (nasdaq: ESEA - news - people ) increased 4.0%, or 58 cents, to $15.20.

Dahlman Rose analyst Omar Nokta said Chinas demand for ships to deliver steel exports continues to be strong, which proves that the global economy isnt slowing. Until we start seeing steel prices ease, things are still very strong, Nokta said.

Last year at this time, Nokta said, there were also a lot of concerns, but he kept reassuring investors that as long as drybulk stocks were strong the economy was doing fine. At this moment in time drybulk is still rocking, but it remains to be seen whats going to happen going forward.

For now, Chinese demand keeps increasing with projects lined up for next year. Right now it doesnt seem like theyll just go off a cliff, Nokta said.

The Associated Press contributed to this article.

LONDON - The Bank of England cut its key interest rate by a quarter percentage point to 5.5 percent on Thursday after growing signs that the economy is slowing.

Economists had expected the decision to be a close call, as the bank weighed up rising inflation against further evidence that Britain's decade-long housing boom is grinding to a halt and consumer confidence is deteriorating.

"Although output in the United Kingdom has expanded at a brisk pace for the past two years, there are now signs that growth has begun to slow," the bank said in comments released with its decision.

Just a few months ago, most economists had expected the next move by the Bank of England to be a rise in rates to 6 percent from 5.75 percent to counter strong inflation and close off a series of rate hikes over the year to July.

However, the U.S. subprime mortgage market collapse and the subsequent worldwide credit squeeze in the late summer has hit Britain hard.

Bank of England Governor Mervyn King acknowledged earlier this month that tighter credit conditions may curb household demand, a sentiment reinforced on Thursday.

"Conditions in financial markets have deteriorated and a tightening in the supply of credit to households and businesses is in train, posing downside risks to the outlook for both output and inflation further ahead," the bank said.

Mortgage lender Halifax revealed Wednesday that house prices across the country fell 1.1 percent in November, bringing house price growth for the year to 6.3 percent, down from 8.9 percent in October. It was the first time since 1995 that the lender had reported price drops for three consecutive months.

The Nationwide Building Society's index of consumer confidence, also released Wednesday, dropped 12 points to 86, the biggest decline since it was introduced in May 2004, as faster inflation erodes households' purchasing power.

Those rising consumer prices have complicated the bank's decision. Inflation rose 2.1 percent at an annualized rate in October, putting the measure above the government's 2 percent target.

The bank will publish the full minutes of this month's two-day rate setting meeting on Dec. 19, revealing details on the vote.


Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed





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Sorry about that. Why the deep in share price.

what dip? .... actually, though slight, I like the bounce off 25 dma

SHARE Price fall from 550 to 360. deep dip?

that bit i don't know ... only started following very recently

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