Goldenport Holdings Inc. provided its interim management statement covering the quarter to 31 March 2011, RTTNews reports.
During the first quarter of 2011, the company paid $7.9 million from cash reserves and drew-down $10.3 million of debt in relation to the third and fourth shipyard instalments for the Post Panamax bulk carrier vessel 'D Skalkeas' on order from Yangzijiang Shipbuilding Co Ltd., in China.
The company during the period utilised restricted cash of $5.2 million to finance the acquisition of the container vessel 'Pos Yantian' and used the remaining amount of $4.9 million of restricted cash to prepay early the relevant loan by an equal amount. Including the early prepayment, the company has repaid $13.4 million of bank debt in this period.
During the first quarter of 2011, the company paid $7.9 million from cash reserves and drew-down $10.3 million of debt in relation to the third and fourth shipyard instalments for the Post Panamax bulk carrier vessel 'D Skalkeas' on order from Yangzijiang Shipbuilding Co Ltd., in China.
The company during the period utilised restricted cash of $5.2 million to finance the acquisition of the container vessel 'Pos Yantian' and used the remaining amount of $4.9 million of restricted cash to prepay early the relevant loan by an equal amount. Including the early prepayment, the company has repaid $13.4 million of bank debt in this period.