Goldenport Freebie

This week Goldenport announced that it had reached an agreement with COSCO (Zhousan) Shipyard to re-schedule the delivery dates of four newbuild 57,000 DWT bulkcarriers at no additional cost.

The new delivery dates for these four vessels will now take place between four and eighteen months after their originally agreed dates in late 2009. Financing remains in place as does the existing charters that will commence upon delivery.

This was a great deal for both the owner and charterer. Goldenport gets to optimize its cash flow during this deferral period and the charterer takes delivery later when hopefully charter conditions have improved. Cooperation works wonders

This is only an excerpt of Goldenport Freebie

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