Grindrod Shipping Holdings Ltd (OQ:GRIN)
Business Focus: Deep Sea Freight
| Sector: Industrials | Industry: Marine Freight & Logistics |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1 TEMASEK AVENUE, MILLENIA TOWER #10-02 Singapore 039192 |
| Tel: | N/A |
| Website: | https://www.grinshipping.com |
| IR: | See website |
| Key People | ||
| Edward David Chri Buttery Chief Executive Officer, Director | Deborah Ann Hare Davel Chief Financial Officer | |
| Business Overview |
| Grindrod Shipping Holdings Ltd. is a Singapore-based shipping company that owns, charters-in and operates a fleet of drybulk carriers. The Company operates the drybulk carriers' business, which is divided into three segments: Handysize, Supramax/Ultramax, and Others. The drybulk business, which operates under the brand Island View Shipping (IVS), includes a core fleet of approximately 29 vessels, consisting of 14 handysize drybulk carriers and 15 supramax/ultramax drybulk carriers. Its drybulk carriers transport a range of major and minor bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers, along worldwide shipping routes and are employed in pools of similarly sized vessels or in the spot market. Its subsidiaries include Comshipco Schiffahrtsagentur GmBH, Grindrod Shipping Pte. Ltd., Grindrod Shipping Services UK Limited, Grindrod Shipping (South Africa) (Pty) Ltd, IM Shipping Pte. Ltd., and IVS Bulk Pte. Ltd., among others. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Grindrod Shipping Holdings Ltd revenues decreased 16% to $387.1M. Net loss totaled $9.6M vs. income of $103.4M. Revenues reflect Supramax segment decrease of 13% to $232.5M, Other segment decrease of 91% to $2.8M. Net loss reflects (Impairment loss) reversal of impairment increase from $1.7M (income) to $2M (expense), Int exp on Financial Lease Liabilities increase of 65% to $2.3M (expense). |
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