September 12th, 20180Three berths at Transnet’s Durban Container Terminal will be deepened to accommodate larger boxships by 2023. A R7bn contract engineering contract has just been handed to an Italian-South African joint venture to carry out the project. Transnet chief capital officer, Krishna Reddy commented: “In the port of Durban which handles...
August 31st, 20181South African shipping company Grindrod has revealed it is in the process of adding five more bulkers to its fleet. The company has taken two 61,000 dwt Japanese newbuild resales due for delivery this quarter. The pair are costing $26.4m each, including $600,000 of upgrades per ship. Grindrod has also revealed it is chartering in...
June 19th, 20180Grindrod Shipping Holdings, the shipping business spun out of South Africa’s Grindrod, began trading on the Nasdaq on Monday. Listed under the ticker GRIN with a net asset value of $320m, the spin-off was not a capital raise and so initial trading was rather quiet, however the share price was stable at $17. Martyn Wade, chief...
April 19th, 20181South African transport giant Grindrod has sold its bunker subsidiary, Unicorn Bunker Services, for an undisclosed amount to a joint venture comprising WOESA (Women in Oil and Energy South Africa) and Linsen Nambi. “The conclusion of this deal has facilitated the participation of black women and black youth in the maritime sector...
March 27th, 20180Grindrod has announced plans to spin off its shipping division on the Nasdaq among a host of other changes on the cards at the South African logistics company. Mike Hankinson, executive chairman of Grindrod, commented: “The change in the business cycle has impacted positively on the business and has provided the stimulus to...
January 30th, 20181A deputy sheriff in South Africa died after he fell off supramax bulk carrier on Saturday. According to local reports, officer Henry Kemp fell while climbing a steep ladder to execute a warrant of arrest on the 57,000 dwt vessel, which was about four miles from the port of Port Elizabeth. The crew of the ship managed to recover him...
September 20th, 20170Shippers have hit out at attempts by Transnet to try and raise tariffs at a time when the full details of a huge corruption scandal are unravelling at South Africa’s top port operator. Transnet, which runs container terminals in Durban, Ngqura, Port Elizabeth and Cape Town and is also the national port authority, is trying to push...
August 24th, 20170South African shipping and logistics firm Grindrod is planning to spin off and list its shipping business. Grindrod has had the intention to separate the shipping business from the balance of the group for many years as it does not believe that the value of the shipping business is fairly reflected in the Grindrod share...
June 9th, 20170Petredec and Bidvest Tank Terminals today announced they have entered into an agreement for the development of a new facility for the import and storage of LPG in Richards Bay, South Africa. The facility will be a 22,600 tonne storage facility at Bidvest’s existing site in Richards Bay. The completed facility will be the world’s...
April 18th, 20170When the Polaris Shipping-controlled broke its course and made for Cape Town seeking repairs at the start of the month it was originally slated to leave South African waters on April 13. However, repair work to the cracked hull of the 25-year old converted ore carrier has not gone according to plan. The ship, built originally at the...
