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