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.

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.

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.

Goldenport said it would utilize the proceeds to increase liquidity and would continue to review the market for accretive vessel acquisitions.

MF

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021
The after effects of the gas-price shock
Economy

The after effects of the gas-price shock

In the wake of the recent spike in the natural gas price, we can expect slower growth, an industrial recession – and a newly assertive Russia, says Ma…
17 Oct 2021