Grindrod selling older ships as loss grows

South African tanker and bulker owner and operator Grindrod is trimming its elderly fleet and completing its NB. In last three years, shipowner and operator Grindrod has taken delivery of more than ten vessels. South African tanker and bulker owner and operator Grindrod has 11 handysizes and 4 supramaxes owned by third parties being run by sister company Island View Shipping. Grindrod has 36 vessels in oceans. In 2016, South African tanker and bulker owner and operator Grindrod announced a net loss of $145 million.