Singapore-based bulker owner Grindrod Shipping has continued its ship sale campaign, confirming the exit of two ultramaxes and deals for a pair of handysize units.
The Ed Buttery-led company has confirmed Splash reports of an en-bloc deal for Japanese-built ultramaxes, IVS Hayakita, built in 2016, and IVS Bosch Hoek, built in 2015.
The duo was offloaded for a total of $46.5m and delivered last month, with around $10m debt repaid on the company’s $114.1m senior secured loan.
Grindrod, which was taken over by Buttery’s London-listed Taylor Maritime Investments (TMI) last year, also revealed the sale of the 2013-built handy IVS Merlion for $11.6m. The vessel is unencumbered and should change hands by December 15 this year.
In addition, the 2013-built IVS Raffles is set to exit the fleet by the end of November for $11.6m.
Earlier this month, Grindrod closed the deal to acquire two shipmanagement companies from Taylor Maritime Group, taking over Taylor Maritime Management and Tamar Ship Management in a $11.75m cash and shares deal. Temeraire Holdings was also involved in the sale of Tamar.
The company currently lists 27 ships in its fleet, of which 21 are owned, including the handies sold.
