Goldenport sells MSC Scotland for 6.5m dollars

International shipping company Goldenport Holdings has concluded the sale of the 1992-built container vessel MSC Scotland, to an unaffiliated third party Joplin Overseas Investments in the British Virgin Islands for a cash consideration of 6.5m dollars.

By MoneyWeek

published 15 May 2013

in Features

The company reported that the vessel was delivered to the new owners on May 14th 2013 and Goldenport said it expected to realise a book loss of $1.8m net of commissions.

The vessel was initially acquired in 2006 for a total consideration of $14.4m and Goldenport said that it had traded successfully with the company for the last seven years, resulting in a cumulative adjusted earnings before interest tax depreciation and amortisation (EBITDA) excluding non-cash items of $21.8m during that period.