Goldenport : Suspension of Debt Servicing and Trading Update

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Suspension of Debt Servicing and Trading Update

('Goldenport' or 'the Company'), (LSE: GPRT) the international shipping company that owns and operates a fleet of dry bulk and container vessels, announces today the suspension of debt servicing and the update on the trading of its fleet as of .

Suspension of Debt Servicing

The economics of the dry shipping market continue to be particularly challenging with the Baltic Dry Index falling to all time lows and containership freight rates decreasing sharply in the second half of 2015. Against this background, cash flow generated from operations is only sufficient to cover the operating expenses of the fleet. As a result, the Company has suspended the servicing of its debt and is in ongoing negotiations with its lenders to restructure its loan facilities.

Trading Update

Fleet Employment Profile

	Vessel	Type	Capacity	Built	Rate (US$) per day	Earliest Expiration
	Dry Bulk		DWT
1	D Skalkeas	Post Panamax	93,000	2011	5,700	Mar-16
2	Eleni D	Supramax	59,000	2010	8,000	Mar-16
3	Milos	Supramax	57,000	2010	3,000	Feb-16
4	Sifnos	Supramax	57,000	2010	Idle
5	Pisti	Supramax	57,000	2011	4,000	Mar-16
6	Sofia	Supramax	57,000	2011	4,000	Jan-16
	Containers		TEU
1	Erato	Sub Panamax	2,500	2011	9,725	Apr-16
2	Paris Jr	Handy	1,129	1996	7,400	Mar-16
Represents earliest day on which the charterer may redeliver the vessel

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For further information, please contact:

John Dragnis, Chief Executive Officer [phone]

, Chief Financial Officer [phone]

[e-mail]

Jos Simson / Emily Fenton [phone]