MGN · Maritime Global Network
Home Directory Ports Bunkers News Events Careers OTII Market Reports Advertise

News Release

February 7, 2011

Back to News

Trading Update and Pre-Close Statement

News Release Goldenport Holdings, Inc. February 7, 2011
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE></TITLE>
<META content="text/html; charset=unicode" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.18904"></HEAD>
<BODY>
<DIV>
<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%">
<TBODY>
<TR>
<TD><IMG border=0 alt="Goldenport Holdings Inc."
src="http://media.corporate-ir.net/media_files/irol/19/195575/img/head.gif"
width=750 height=75></TD>
<TD vAlign=bottom align=right><A class=ccbnLnk onclick=window.close();
href="http://phx.corporate-ir.net/phoenix.zhtml?c=195575&amp;p=irol-newsArticle&amp;ID=1525183&amp;highlight=">Close
Window</A></TD></TR></TBODY></TABLE>
<HR style="COLOR: rgb(77,113,147)">

<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%">
<TBODY>
<TR>
<TD><SPAN class=ccbnTxtBold>News Release</SPAN><BR><BR>
<TABLE border=0 cellSpacing=1 cellPadding=3 width="100%">
<TBODY>
<TR class=ccbnBgTtl>
<TD vAlign=top><SPAN class=ccbnTtl>Trading Update and Pre-Close
Statement</SPAN></TD></TR>
<TR class=ccbnBgTxt>
<TD vAlign=top><SPAN class=ccbnTxt>
<DIV>RNS Number : 7502A</DIV>
<DIV>Goldenport Holdings Inc</DIV>
<DIV>07 February 2011</DIV>
<DIV>&nbsp;</DIV>
<P></P>
<DIV class=x>
<P class=g><SPAN class=eb>Goldenport Holdings Inc.</SPAN></P>
<P class=g><SPAN class=eb>Athens, 7 February 2011</SPAN></P>
<P class=ed>&nbsp;</P>
<P class=ee><SPAN class=dz>TRADING UPDATE AND PRE-CLOSE
STATEMENT</SPAN></P>
<P class=ee><SPAN class=eb></SPAN>&nbsp;</P>
<P class=ee><SPAN class=eb>TRADING UPDATE</SPAN></P>
<P class=g><SPAN class=eb></SPAN>&nbsp;</P>
<P class=ef><SPAN class=t>Goldenport Holdings Inc. ("Goldenport" or
"the Company"), (LSE: GPRT) the international shipping company that
owns and operates a fleet of container&nbsp;and dry
bulk&nbsp;vessels </SPAN>announces today the update on the trading
of its fleet as of 4 February 2011.</P>
<P class=ef>&nbsp;</P>
<P class=eg><SPAN class=eb>Operational Fleet Forward Coverage:
</SPAN></P>
<P class=eh><SPAN class=dt></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>The percentage of available days of the
fleet already fixed under contracts as of 4 February 2011, assuming
the <SPAN class=dq>earliest</SPAN> charter expiration and <SPAN
class=dq>excluding</SPAN> the new-building vessels not yet
delivered, is as follows: </SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<TABLE style="WIDTH: 547px" class=ei cellSpacing=0 cellPadding=0>
<TBODY>
<TR class=dj>
<TD style="WIDTH: 42%" class=dp vAlign=bottom>
<P class=a>&nbsp;</P></TD>
<TD style="WIDTH: 22%" class=dm vAlign=bottom>
<P class=ej><SPAN style="FONT-WEIGHT: bold"
class=do>2011</SPAN><SPAN style="FONT-WEIGHT: bold"
class=do><SUP><SPAN>(1) (2)</SPAN></SUP></SPAN></P></TD>
<TD style="WIDTH: 16%" class=dl vAlign=bottom>
<P class=ej><SPAN style="FONT-WEIGHT: bold"
class=do>2012</SPAN><SPAN style="FONT-WEIGHT: bold"
class=do><SUP><SPAN> (1) (2)</SPAN></SUP></SPAN></P></TD>
<TD style="WIDTH: 18%" class=dk vAlign=bottom>
<P class=ej><SPAN style="FONT-WEIGHT: bold"
class=do>2013</SPAN><SPAN style="FONT-WEIGHT: bold"
class=do><SUP><SPAN> (2)</SPAN></SUP></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 42%" class=dp vAlign=bottom>
<P class=a>Total Fleet</P></TD>
<TD style="WIDTH: 22%" class=dm vAlign=bottom>
<P class=ej><SPAN>83% (77%) </SPAN></P></TD>
<TD style="WIDTH: 16%" class=dl vAlign=bottom>
<P class=ej><SPAN>40% (38%) </SPAN></P></TD>
<TD style="WIDTH: 18%" class=dk vAlign=bottom>
<P class=ej><SPAN>17%</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 42%" class=dp vAlign=bottom>
<P class=a>Containers</P></TD>
<TD style="WIDTH: 22%" class=dm vAlign=bottom>
<P class=ej>99% (98%)</P></TD>
<TD style="WIDTH: 16%" class=dl vAlign=bottom>
<P class=ej>47% (44%)</P></TD>
<TD style="WIDTH: 18%" class=dk vAlign=bottom>
<P class=ej><SPAN>5%</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 42%" class=dp vAlign=bottom>
<P class=a>Bulk Carriers</P></TD>
<TD style="WIDTH: 22%" class=dm vAlign=bottom>
<P class=ej><SPAN>65% (55%)</SPAN></P></TD>
<TD style="WIDTH: 16%" class=dl vAlign=bottom>
<P class=ej><SPAN>32% (32%) </SPAN></P></TD>
<TD style="WIDTH: 18%" class=dk vAlign=bottom>
<P class=ej><SPAN>28%</SPAN></P></TD></TR></TBODY></TABLE>
<P class=g><SPAN class=dt></SPAN>&nbsp;</P>
<P class=eh><SPAN style="FONT-WEIGHT: bold"><SUP><SPAN class=dh>(1)
</SPAN></SUP></SPAN><SPAN class=dg>Percentage of available days of
the fleet fixed under contract as reported on 16 November 2010,
being the date of the previous trading update, is given in
brackets</SPAN></P>
<P class=eh><SPAN style="FONT-WEIGHT: bold"><SUP><SPAN class=dh>(2)
</SPAN></SUP></SPAN><SPAN class=dg>The percentages above include
only the current operational fleet and <SPAN class=dq>exclude</SPAN>
the four new-build vessels for which we expect delivery in 2011
</SPAN></P>
<P class=ee><SPAN class=dt></SPAN>&nbsp;</P>
<P class=ek><SPAN class=dz>CEO Statement:</SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>Captain Paris Dragnis, Founder and Chief
Executive Officer of Goldenport commented: </SPAN></P>
<P class=eh><SPAN class=dd></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>"During the last quarter of 2010, we
continued implementing our fleet expansion by taking delivery of
three of our new-building geared Supramax bulk carriers, namely the
vessels, 'Milos', 'Sifnos' and 'Eleni D', which all commenced their
pre-agreed time charters immediately following their deliveries from
the respective yards.</SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>"Our organic growth is set to continue in
the first half of 2011, when we expect the deliveries from the
shipyards of our four remaining contracted new-building vessels.
Within February 2011 we also expect the delivery from the seller of
the recently acquired container vessel 'Clifton-Bridge', which will
commence a profitable 18-month time charter in early
March.</SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>"In the present environment of weak
market conditions in the bulk carrier segment, we are pleased to
report strong forward coverage for our operational fleet where, 65%
of the available days for 2011 are already fixed under period
employment, assuming earliest charter expiration. It needs to be
noted that throughout the recent period of weakness, the Supramax
asset class in which we have focused the majority of our
investments, outperformed the larger sizes of Panamaxes and
Capesizes mainly due to the commercial flexibility that these
vessels provide and the different trades that these can accommodate.
</SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>"We have also secured strong forward
coverage for the majority of our operational fleet of containers
with 99% of the fleet available days for 2011 already fixed under
period employment. This translates into strong and visible cash
flows. </SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eh><SPAN class=eb>"We remain cautious given the current
market conditions, but also alert to take advantage of any
opportunities as these may arise. Our strong cash balance and our
extended cash flow visibility based on the forward time charter
coverage in both segments in which we operate, allows us to be
confident in the prospects of our Company."</SPAN></P>
<P class=eh><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eg><SPAN class=eb>Fleet Employment Profile:</SPAN></P>
<P class=el><SPAN class=eb></SPAN>&nbsp;</P>
<TABLE style="WIDTH: 625px" class=em cellSpacing=0 cellPadding=0>
<TBODY>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=en><SPAN class=cy>Operational fleet</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=eo><SPAN class=cy>Vessel</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=ed><SPAN class=cy>Type</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ed><SPAN class=cy>Capacity</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=ed><SPAN class=cy>Built</SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=ed><SPAN class=cy>Rate (US$) per day</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=ed><SPAN class=cy>Earliest </SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 13px" class=cp vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=co vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cn vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cm vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=cl vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=ck vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cj vAlign=bottom>
<P class=ed><SPAN class=cy>Expiration
<SUP>(1)</SUP></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=en><SPAN class=cy>Containers</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ep><SPAN class=cy>TEU</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD></TR>
<TR class=bz>
<TD style="WIDTH: 13px" class=cg vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cf vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=ce vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cd vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=cc vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cb vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=ca vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 13px" class=cp vAlign=top>
<P class=ej><SPAN class=cy>1</SPAN></P></TD>
<TD style="WIDTH: 132px" class=co vAlign=top>
<P class=a><SPAN class=cy>MSC Fortunate
<SUP>(2)</SUP></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cn vAlign=top>
<P class=eq><SPAN class=cy>Post Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cm vAlign=top>
<P class=eq><SPAN class=cy>5,551</SPAN></P></TD>
<TD style="WIDTH: 59px" class=cl vAlign=top>
<P class=ej><SPAN class=cy>1996</SPAN></P></TD>
<TD style="WIDTH: 110px" class=ck vAlign=top>
<P class=eq><SPAN class=cy>28,500</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cj vAlign=top>
<P class=eq><SPAN class=cy>Feb-13</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>2</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>MSC Socotra </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Post Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>4,953</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1995</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>12,350</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Apr-13</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>3</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Bosporus Bridge </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>3,720</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1993</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>14,750</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Feb-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>4</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>POS Yantian
<SUP>(3)</SUP></SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Post Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>3,720</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1988</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>10,750</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Sep-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>5</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>MSC Finland </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>3,032</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1986</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>9,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Apr-12</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 13px" class=cp vAlign=top>
<P class=ej><SPAN class=cy>6</SPAN></P></TD>
<TD style="WIDTH: 132px" class=co vAlign=top>
<P class=a><SPAN class=cy>MSC Scotland
<SUP>(4)</SUP></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cn vAlign=top>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cm vAlign=top>
<P class=eq><SPAN class=cy>3,007</SPAN></P></TD>
<TD style="WIDTH: 59px" class=cl vAlign=top>
<P class=ej><SPAN class=cy>1992</SPAN></P></TD>
<TD style="WIDTH: 110px" class=ck vAlign=top>
<P class=eq><SPAN class=cy>14,500</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cj vAlign=top>
<P class=eq><SPAN class=cy>Mar-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>6,800</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Mar-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>7</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Grand Vision </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>2,986</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1991</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>9,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Nov-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>8</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>MSC Anafi</SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>2,420</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1994</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>9,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Jan-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>9</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>MSC Accra</SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>1,889</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1985</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>14,200</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Jun-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>10</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Gitte </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Handy</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>976</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1992</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>7,350</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>May-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>11</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Brilliant </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Handy</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>976</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1992</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>6,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Jun-12</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=a><SPAN class=da><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=top>
<P class=en><SPAN class=cy>Dry Bulk</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=top>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=top>
<P class=ep><SPAN class=cy>DWT</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=top>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=top>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=top>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=top>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=top>
<P class=ej><SPAN class=cy>12</SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=top>
<P class=a><SPAN class=cy>Vasos</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=top>
<P class=eq><SPAN class=cy>Capesize</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=top>
<P class=eq><SPAN class=cy>152,065</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=top>
<P class=ej><SPAN class=cy>1990</SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=top>
<P class=eq><SPAN class=cy>23,950</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=top>
<P class=eq><SPAN class=cy>Mar-11</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=top>
<P class=ej><SPAN class=cy>13</SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=top>
<P class=a><SPAN class=cy>Eleni D </SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=top>
<P class=eq><SPAN class=cy>59,000</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=top>
<P class=ej><SPAN class=cy>2010</SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=top>
<P class=eq><SPAN class=cy>23,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=top>
<P class=eq><SPAN class=cy>Dec-13</SPAN></P></TD></TR>
<TR class=bi>
<TD style="WIDTH: 13px" class=bp vAlign=top>
<P class=ej><SPAN class=cy>14</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bo vAlign=top>
<P class=a><SPAN class=cy>Milos</SPAN></P></TD>
<TD style="WIDTH: 76px" class=bn vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bm vAlign=top>
<P class=eq><SPAN class=cy>57,000</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bl vAlign=top>
<P class=ej><SPAN class=cy>2010</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bk vAlign=top>
<P class=eq><SPAN class=cy>15,650 + 50% profit share of 105%
BSI<SUP>(7)</SUP></SPAN></P></TD>
<TD style="WIDTH: 83px" class=bj vAlign=top>
<P class=eq><SPAN class=cy>Oct-13</SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 13px" class=bh vAlign=top>
<P class=ej><SPAN class=cy>15</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bg vAlign=top>
<P class=a><SPAN class=cy>Sifnos </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bf vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=be vAlign=top>
<P class=eq><SPAN class=cy>57,000</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bd vAlign=top>
<P class=ej><SPAN class=cy>2010</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bc vAlign=top>
<P class=eq><SPAN class=cy>17,700 + 50% profit share of 105%
BSI<SUP>(7)</SUP> over 18,200</SPAN></P></TD>
<TD style="WIDTH: 83px" class=bb vAlign=top>
<P class=eq><SPAN class=cy>Jan-14</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 13px" class=cp vAlign=top>
<P class=ej><SPAN class=cy>16</SPAN></P></TD>
<TD style="WIDTH: 132px" class=co vAlign=top>
<P class=a><SPAN class=cy>Marie-Paule
<SUP>(5)</SUP></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cn vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cm vAlign=top>
<P class=eq><SPAN class=cy>53,800</SPAN></P></TD>
<TD style="WIDTH: 59px" class=cl vAlign=top>
<P class=ej><SPAN class=cy>2009</SPAN></P></TD>
<TD style="WIDTH: 110px" class=ck vAlign=top>
<P class=eq><SPAN class=cy>18,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cj vAlign=top>
<P class=eq><SPAN class=cy>Jan-12</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 13px" class=cp vAlign=top>
<P class=ej><SPAN class=cy>17</SPAN></P></TD>
<TD style="WIDTH: 132px" class=co vAlign=top>
<P class=a><SPAN class=cy>Alpine-Trader
<SUP>(5)</SUP></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cn vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cm vAlign=top>
<P class=eq><SPAN class=cy>53,800</SPAN></P></TD>
<TD style="WIDTH: 59px" class=cl vAlign=top>
<P class=ej><SPAN class=cy>2009</SPAN></P></TD>
<TD style="WIDTH: 110px" class=ck vAlign=top>
<P class=eq><SPAN class=cy>15,300</SPAN></P></TD>
<TD style="WIDTH: 83px" class=cj vAlign=top>
<P class=eq><SPAN class=cy>Oct-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>18</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Alex D </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>52,315</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1989</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>10,900</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Apr-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>19</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Limnos </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>52,266</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1992</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>14,500</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>May-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>20</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Lindos </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>52,266</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1990</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>9,500</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Mar-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>21</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Tilos</SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>52,266</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1991</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>11,000</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Apr-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=top>
<P class=ej><SPAN class=cy>22</SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=top>
<P class=a><SPAN class=cy>Golden-Trader </SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=top>
<P class=eq><SPAN class=cy>Handymax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=top>
<P class=eq><SPAN class=cy>48,140</SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=top>
<P class=ej><SPAN class=cy>1994</SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=top>
<P class=eq><SPAN class=cy>18,600</SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=top>
<P class=eq><SPAN class=cy>Nov-11</SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=bw vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=bv vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=bq>
<TD style="WIDTH: 13px" class=bx vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 223px" class=az vAlign=bottom colSpan=2>
<P class=en><SPAN class=cy>Vessels under
construction</SPAN></P></TD>
<TD style="WIDTH: 51px" class=bu vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=bt vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=bs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=br vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=ar>
<TD style="WIDTH: 13px" class=ay vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=ax vAlign=bottom>
<P class=eo><SPAN class=cy>Vessel / Yard name</SPAN></P></TD>
<TD style="WIDTH: 76px" class=aw vAlign=bottom>
<P class=ed><SPAN class=cy>Type</SPAN></P></TD>
<TD style="WIDTH: 51px" class=av vAlign=bottom>
<P class=ed><SPAN class=cy>Capacity</SPAN></P></TD>
<TD style="WIDTH: 59px" class=au vAlign=bottom>
<P class=ed><SPAN class=cy>Scheduled Delivery</SPAN></P></TD>
<TD style="WIDTH: 110px" class=at vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=as vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=eo><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=en><SPAN class=cy>Container</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ep><SPAN class=cy>TEU</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=eo><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=aj>
<TD style="WIDTH: 13px" class=aq vAlign=bottom>
<P class=ej><SPAN class=cy>23</SPAN></P></TD>
<TD style="WIDTH: 132px" class=ap vAlign=bottom>
<P class=a><SPAN class=cy>Jiangsu Yangzijiang </SPAN></P></TD>
<TD style="WIDTH: 76px" class=ao vAlign=bottom>
<P class=eq><SPAN class=cy>Sub Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=an vAlign=bottom>
<P class=eq><SPAN class=cy>2,500</SPAN></P></TD>
<TD style="WIDTH: 59px" class=am vAlign=bottom>
<P class=ej><SPAN class=cy>2011</SPAN></P></TD>
<TD style="WIDTH: 110px" class=al vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=ak vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=ar>
<TD style="WIDTH: 13px" class=ay vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=ax vAlign=bottom>
<P class=eo><SPAN class=cy>Vessel or Yard name</SPAN></P></TD>
<TD style="WIDTH: 76px" class=aw vAlign=bottom>
<P class=ed><SPAN class=cy>Type</SPAN></P></TD>
<TD style="WIDTH: 51px" class=av vAlign=bottom>
<P class=ed><SPAN class=cy>Capacity</SPAN></P></TD>
<TD style="WIDTH: 59px" class=au vAlign=bottom>
<P class=ed><SPAN class=cy>Scheduled Delivery</SPAN></P></TD>
<TD style="WIDTH: 207px" class=ai vAlign=bottom colSpan=2>
<P class=ed><SPAN class=cy>Rate (US$) per day</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=eo><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=ed><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=en><SPAN class=cy>Dry Bulk</SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=eq><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=ep><SPAN class=cy>DWT</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy>24</SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=a><SPAN class=cy>Jiangsu Yangzijiang </SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=eq><SPAN class=cy>Post Panamax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=eq><SPAN class=cy>93,000</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=ej><SPAN class=cy>2011</SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 13px" class=cp vAlign=bottom>
<P class=ej><SPAN class=cy>25</SPAN></P></TD>
<TD style="WIDTH: 132px" class=co vAlign=bottom>
<P class=a><SPAN class=cy>COSCO <SUP>(6)</SUP></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cn vAlign=bottom>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cm vAlign=bottom>
<P class=eq><SPAN class=cy>57,000</SPAN></P></TD>
<TD style="WIDTH: 59px" class=cl vAlign=bottom>
<P class=ej><SPAN class=cy>2011</SPAN></P></TD>
<TD style="WIDTH: 207px" class=ah vAlign=bottom colSpan=2>
<P class=ej><SPAN class=cy>25,000</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy>26</SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=a><SPAN class=cy>COSCO </SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=eq><SPAN class=cy>Supramax</SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=eq><SPAN class=cy>57,000</SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=ej><SPAN class=cy>2011</SPAN></P></TD>
<TD style="WIDTH: 207px" class=ag vAlign=bottom colSpan=2>
<P class=ej><SPAN class=cy>-</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 13px" class=cz vAlign=bottom>
<P class=ej><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 132px" class=cw vAlign=bottom>
<P class=a><SPAN class=da><BR></SPAN></P></TD>
<TD style="WIDTH: 76px" class=cv vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 51px" class=cu vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 59px" class=ct vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 110px" class=cs vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD>
<TD style="WIDTH: 83px" class=cr vAlign=bottom>
<P class=a><SPAN class=cy><BR></SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 611px" class=af vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(1)</SPAN></SUP><SPAN class=cy>
Represents earliest day on which the charterer may redeliver
the vessel</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 611px" class=af vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(2)</SPAN></SUP><SPAN class=cy>
The rate stated is the average rate per day over the duration
of the time charter</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 611px" class=af vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(3)</SPAN></SUP><SPAN class=cy>
The previous name of the vessel was 'Clifton-Bridge'. The
charter will commence in early March 2011</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 611px" class=af vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(4)</SPAN></SUP><SPAN class=cy>
The vessel will continue with the same charterer with the
rates as stated in direct continuation</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 611px" class=af vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(5)&nbsp; </SPAN></SUP><SPAN
class=cy>Both vessels owned under a 50:50 joint venture with
Glencore International AG</SPAN></P></TD></TR>
<TR class=dj>
<TD style="WIDTH: 611px" class=ae vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(6)&nbsp; </SPAN></SUP><SPAN
class=cy>The charter term is for three years from
delivery</SPAN></P></TD></TR>
<TR class=ci>
<TD style="WIDTH: 611px" class=af vAlign=bottom colSpan=7>
<P class=a><SUP><SPAN class=cy>(7)</SPAN></SUP><SPAN class=cy>
BSI: Baltic Supramax Index</SPAN></P></TD></TR></TBODY></TABLE>
<P class=el><SPAN class=eb></SPAN>&nbsp;</P>
<P class=eg><SPAN class=eb>Recent Events in Chartering
Market:</SPAN></P>
<P class=ef>&nbsp;</P>
<P class=ef>On 25 January 2011, Korea Line Corporation ("KLC"), a
charterer of dry-bulk vessels, has <SPAN>filed a petition with
Korean courts for rehabilitation proceedings. </SPAN></P>
<P class=ef>&nbsp;</P>
<P class=ef>Out of the current operating fleet of 22 vessels, the
Company has two vessels chartered with KLC. As of the date of the
filing the Company did not have any outstanding receivables from
previous hires in relation to these vessels.</P>
<P class=ef>&nbsp;</P>
<P class=eh><SPAN class=eb>The Company is closely monitoring the
progress of the court process and has taken all necessary steps to
protect its rights arising under the charter party agreements. The
Company expects to have an update in relation to the case by the
next trading update.</SPAN></P>
<P class=g><SPAN class=eb></SPAN>&nbsp;</P>
<P class=ee><SPAN class=eb>PRE-CLOSE STATEMENT</SPAN></P>
<P class=a><SPAN class=ac></SPAN>&nbsp;</P>
<P class=ef>Goldenport Holdings Inc ("Goldenport" or "the Company"),
(LSE: GPRT) would also like to report that the results for the full
year ended 31 December 2010 are expected to be in line with market
expectations. The Company's final results for the year ended 31
December 2010 will be announced on Wednesday 2 March 2011.</P>
<P class=ef><SPAN class=ab></SPAN>&nbsp;</P>
<P class=g><SPAN class=eb></SPAN></P>
<P
class=g></SPAN>&nbsp;</P></DIV></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></DIV></BODY></HTML>