London-listed Taylor Maritime Investments (TMI), the spin-off of Hong Kong-based shipowner Taylor Maritime, takes the reins at Singapore-based shipowner and operator Grindrod Shipping (GRIN). Grindrod Shipping’s (GRIN) Interim CEO Stephen Griffiths is returning to the United Kingdom after working 13 years as Edward Buttery-led Taylor Maritime Investments (TMI) reshapes top executives of the New York-listed shipowner and operator Grindrod Shipping (GRIN). Previously, Singapore-based shipowner and operator Grindrod Shipping (GRIN) increased its fleet following the purchase of the outstanding portion of subsidiary company IVS Bulk. Later, Taylor Maritime Investments (TMI) acquired Grindrod Shipping (GRIN). Edward Buttery has been appointed as the new CEO of Grindrod Shipping (GRIN). Edward Buttery takes up the CEO position with current interim CEO Stephen Griffiths retiring from Grindrod Shipping (GRIN). New York-listed shipowner and operator Grindrod Shipping (GRIN) has appointed Deborah Davel as the company’s new CFO (Chief Financial Officer). Previously, Taylor Maritime Investments (TMI) declared the completion of the deal to acquire the remaining shares in Singapore-based shipowner and operator Grindrod Shipping (GRIN). 21-March-2023
Singapore-based shipowner and operator Grindrod Shipping (GRIN) reported a net income of $53.3 million in Q2 2022. Grindrod Shipping (GRIN) reported a net profit of $83.1 million in H1 2022. Interim CEO Stephen Griffiths-led shipowner and operator Grindrod Shipping (GRIN) reported revenue of $271.9 million in H1 2022. New York-listed shipowner and operator Grindrod Shipping (GRIN) expresses another record quarterly performance that mirrors the resilient markets in the handysize and ultramax bulk carrier segments. Previously, Singapore-based shipowner and operator Grindrod Shipping (GRIN) increased its fleet following the purchase of the outstanding portion of subsidiary company IVS Bulk. Singapore-based shipowner and operator Grindrod Shipping (GRIN) states smaller bulk carriers are making a premium over larger bulk carriers due to their versatility. Grindrod Shipping (GRIN) states that the dry bulk market remained healthy in Q2 2022, despite the ongoing Russian-Ukraine war and disturbances in classic trade routes. 18-August-2022
New York-listed shipowner and operator Grindrod Shipping (GRIN) declared the retirement of CEO Martyn Wade. Singapore-based shipowner and operator Grindrod Shipping (GRIN) has not been looking for a permanent successor to CEO Martyn Wade after having selected CFO Stephen Griffiths as interim chief executive on 1 April 2022. Shipping market players are doubtful that a sale or merger may be in the Grindrod Shipping’s (GRIN) future. Grindrod Shipping (GRIN)is trading well below its net asset value. Previously, Singapore-based shipowner and operator Grindrod Shipping (GRIN) increased its fleet following the purchase of the outstanding portion of subsidiary company IVS Bulk. London-listed Taylor Maritime Investments, Hong Kong-listed Pacific Basin, New York-listed Genco Shipping & Trading, and Eagle Bulk Shipping are among the listed shipowners who might consider acquiring Grindrod Shipping (GRIN). Currently, Grindrod Shipping (GRIN) owns and operates 31 bulk carriers. 5-April-2022
New York-listed shipowner and operator Grindrod Shipping (GRIN) stated to distribute 72 US cents per share to shareholders. Singapore-based shipowner and operator Grindrod Shipping (GRIN) would be the latest shipowner to remunerate its shareholders with its first actual dividend. Grindrod Shipping (GRIN) reported a $49 million profit in Q3 2021. In Q3 2020, Grindrod Shipping (GRIN) reported a $14 million net loss. Grindrod Shipping (GRIN) reported an average TCE (Time Charter Equivalent) per day of $25,919 for supramax bulk carriers. Grindrod Shipping (GRIN) reported an average TCE (Time Charter Equivalent) per day of $29,934 for ultramax bulk carriers. In Q3 2021, CEO Martyn Wade led Grindrod Shipping produced more effective results taking full benefit of the strong dry bulk market circumstances. Furthermore, Singapore-based shipowner and operator Grindrod Shipping (GRIN) increased fleet following the purchase of the outstanding portion of subsidiary company IVS Bulk. In Q3 2021, Grindrod Shipping (GRIN) concluded the takeover of the 2019 ultramax bulk carrier MV IVS Phoenix for around $23 million. Grindrod Shipping (GRIN) keeps acquisition options for five (5) of its long-term chartered-in bulk carriers. Currently, New York-listed shipowner and operator Grindrod Shipping (GRIN) owns 24 bulk carriers. 17-November-2021
New York-listed shipowner and operator Grindrod Shipping is bullish on the prospect of the dry bulk market, notwithstanding any potential coronavirus-related disturbance in China. Grindrod Shipping is optimistic about the dry bulk market because 7% of the fleet is tied up in congestion in China. China’s Yangtze River embraces 22% of the world’s total dry bulk fleet and may have to go under quarantine. China’s steel production output is at record levels. CEO Martyn Wade led Grindrod Shipping illustrated that there is strong demand from China and the bulk carrier order-book at the shipyards is at its lowest levels. Singapore-based shipowner and operator Grindrod Shipping is pretty optimistic about dry bulk shipping demand. Previously, Grindrod Shipping has gained full control of IVS Bulk. Grindrod Shipping owns and operates 23 handysize and supramax bulk carriers. 20-August-2021
South African tanker and dry bulk shipowner Grindrod Shipping is formally out of tanker ownership. After closing the sales of two (2) MR tankers at the beginning of 2021, Singapore-based Grindrod Shipping paid off more than $50 million in debt. Grindrod Shipping concentrates on handysize and supramax dry bulk segments. Grindrod Shipping sold 2013 built 50K DWT MT Leopard Moon and 2013 built 50K DWT MT Leopard Sun for around $21 million. Furthermore, Grindrod Shipping sold 2019 built 17K DWT MV Breede for around $7 million. New York and South Africa-listed Grindrod Shipping reduced total loans by around $66 million. Grindrod Shipping is strengthening the company’s liquidity. Currently, South African tanker and dry bulk shipowner Grindrod Shipping owns 23 bulk carriers. 23-May-2021
Singapore-based shipowner and operator Grindrod Shipping (GRIN) anticipates positive fundamentals in both the dry bulk and product tanker sectors. New York-listed shipowner and operator Grindrod Shipping (GRIN) reported a second-half loss of $16.4 million. Grindrod Shipping (GRIN) fork out $44.2 million for the IVS Bulk stake. Previously, Singapore-based shipowner and operator Grindrod Shipping (GRIN) increased its fleet following the purchase of the outstanding portion of subsidiary company IVS Bulk. Singapore-based shipowner and operator Grindrod Shipping’s (GRIN) handysize bulk carriers earned an average TCE (Time Charter Equivalent) earnings of $8,551 per day. Singapore-based shipowner and operator Grindrod Shipping’s (GRIN) supramax and ultramax bulk carriers earned an average TCE (Time Charter Equivalent) earnings of $13,624 per day in H2 2019. Grindrod Shipping (GRIN) outperformed the Baltic Handysize TC Index (BHSI) and Baltic Supramax-58 TC Index (BSI-58) benchmarks by about 8.4% and 22.9% respectively. On the other hand, Grindrod Shipping’s (GRIN) MR product tankers underperformed the Clarksons’ Average MR Clean Earnings per day assessment of $15,033 by about 4.2% in H2 2019. CEO Martyn Wade-led New York-listed shipowner and operator Grindrod Shipping’s (GRIN) operations in H2 2019 were stronger than in H1 2019 across the preponderance of financial metrics mirroring stronger dry bulk and product tanker markets during the period. New York-listed shipowner and operator Grindrod Shipping (GRIN) expressed that the current shipping market circumstances deliver exceptional near-term challenges as the consequence of the coronavirus which has disrupted the shipping market and trading patterns for both the dry bulk and product tanker markets. Grindrod Shipping (GRIN) communicated that the low dry bulk order book associated with shipyard delays contains fleet supply, while there seems to be a constant demand for minor bulks which are the essential shipments for Grindrod Shipping’s (GRIN) ships. Singapore-based shipowner and operator Grindrod Shipping (GRIN) expects the product tanker market to stay healthy given an anticipated increase in demand as the consequence of the boost in refining capacity and the dislocation between refiners and end users, correlated with a low tanker order book in shipyards. 26-February-2020
South African tanker and dry bulk shipowner Grindrod Shipping has been contemplating to spin off its shipping business in an international IPO (Initial Public Offering). Grindrod Shipping’s BOD (Board of Directors) proposes to make its ultimate verdict about IPO in early 2018. In August 2017, South African Johannesburg listed Grindrod Shipping estimated that its share price did not reproduce the amount of the shipping business. Grindrod Shipping has a fleet of 42 dry bulk carriers, tankers, and barges. 18-January-2018