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18 June 2018 The on-line newspaper devoted to the world of transports 09:23 GMT+2

August 24, 2017

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Original news
Grindrod accelerates the plan face to return the division Shipping
Hankinson: "it is already in advanced phase and we have in program to carry it to term in the first half of the 2018"

the Grindrod South African has decided of giving accelerating to the plan in order to return own marine division regarding other asset of the group independent. The intention of velocizzare the separation procedure is announced yesterday in occasion of the presentation of the semiannual results of the group. "We have named advisor professional in the field of the shipping and the finance in South Africa and abroad - it has explained the executive chairman of the Grindrod, Mike Hankinson - so that aids work with we to the separation of the business of the Shipping on the base of an international exchange that the groups of the shipping to enter in the South African market. The process - it has specified Hankinson - is already in advanced phase and has in program to carry it to term in the first half of 2018".

Communicating this intention, Grindrod has specified that the board of directors considers that the value of the Shipping division of the group is not represented fully by the value of the share of the Grindrod.

Grindrod has evidenced that lately the Shipping division, although the market tanker continues to being under pressure, has recorded an improvement of the results as a result of a rise of the hires in the field of the bulk sand banks determined from an increase of the question and the contemporary increase of the level of demolitions of ships bound together to a slow down of the income in the world-wide fleet of ships of new construction.

the activity of the South African group in the field of the shipping is carried out through the marks Island View Shipping (ISV) and Unicorn Shipping, both with center to Singapore, and the brand Ocean Africa Container Lines (OACL), company with center to Durban that work containerized services feeder in South Africa with a fleet of four ships.

In the first six months of this year the South African group has recorded revenues pairs to 13,4 billion Krugerrand (871 million dollars), of which 11,5 billion Krugerrands produced from the Shipping division (with an increment of +34.2% on the first semester of 2016).

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