Seven slip away

Goldenport Holdings has pulled the plug on a plan to purchase seven bulkers from its founding Dragis family.

London-listed Goldenport was set to buy two trading ships and five newbuildings from the private Dragnis stable.

Today the public company revealed the deal will not be completed. 

It says the board decided it was not in the best interests of the company to undertake the swoop, despite strong institutional demand for shares to fund the purchase.

Attempts to reach chief executive John Dragnis for further details on the decision were unsuccessful at the time of writing today.

Goldenport first revealed the planned deal in April. It was set to buy the 58,400-dwt Maria (built 2011), the 35,000 Ioanna D (built 2012) and five Green Dolphin newbuildings set for 2015 and early 2016 delivery attached to period deals.

Goldenport is increasingly focused on the dry cargo market having stated it’s preference for growing in that sector rather than the container space.

It presently has nine bulkers to its name, including seven supramaxes.

"The board remains confident in the outlook for the dry bulk sector and will continue with its stated strategy to rebalance and grow the company's fleet of small and medium sized dry-bulk carriers," it said today.