• 2019 August 9 16:27

    Grindrod Shipping takes delivery of IVS Okudogo, signs $31.4M newbuild loan facilities

    Grindrod Shipping Holdings Ltd. (GRIN) (GSH) (“Grindrod Shipping” or "Company" or “it” or “we”), a global provider of maritime transportation services in the drybulk and product tanker sectors, announced that it took delivery of the IVS Okudogo on August 8, 2019, the first of the two owned Ultramax “Eco” newbuildings that the Company agreed to acquire in May 2018.

    In conjunction with the delivery, the Company is also pleased to announce the completion of a drawdown of a portion of the previously announced $31.4 million indicative newbuild financing with IYO Bank for the vessel. The $15.7 million facility relating to the IVS Okudogo has a seven-year term, is repayable in quarterly installments with a balloon payment at the end of the repayment schedule, bears interest at a rate of LIBOR plus 200 basis points per annum and is secured by, amongst other security, the IVS Okudogo. Following this drawdown, $15.7 million remains available for the purchase of the IVS Prestwick, which the Company expects to take delivery of in September 2019.

    About Grindrod Shipping Holdings Ltd.

    Grindrod Shipping owns and operates a diversified fleet of owned and long-term and short-term chartered-in drybulk vessels and product tankers. The drybulk business, which operates under the brand “Island View Shipping” (“IVS”) includes a fleet of 17 Handysize drybulk carriers and 14 Supramax/Ultramax drybulk carriers on the water, including IVS Okudogo, with three ultramax drybulk carriers under construction in Japan due be delivered in 2019 and 2020. The tanker business, which operates under the brand “Unicorn Shipping” (“Unicorn”) includes a fleet of seven medium range tankers and two small tankers. The Company is based in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam.




2020 February 24

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2020 February 23

15:01 Great Lakes reports record full year results
14:32 AAM completes 80’ patrol vessel for the Texas Parks and Wildlife Dep't
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2020 February 22

17:14 First Subsea provide Cable Protection Systems for NnG
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11:39 USCG Cutter Legare returns home after interdicting over 3,300 pounds of drugs
10:47 Ray Fitzgerald to rejoin Crowley as COO

2020 February 21

18:12 Digitization of KN: paper is no longer used in the operation of Klaipėda LNG terminal
17:48 NIBULON Shipyard is about to launch second non-self-propelled open type vessel
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15:02 OCEAN Industries orders MAN Propulsion Packages for Royal Canadian Navy tugs
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09:55 Bunker prices are slightly down at the port of Saint-Petersburg, Russia
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2020 February 20

18:27 SMOOTH PORTS Partners met and discussed in Livorno
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17:52 RF Navy’s Admiral Kasatonov frigate left for Barents Sea to continue testing
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16:04 INOK TM and Admiral Makarov SUMIS sign agreement on cooperation
15:38 Rosmorport reports on its icebreaker support in Russian seaports as of February 17, 2020
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14:47 BIMCO joins Japan to regulate carbon intensity of existing ships
14:25 ESPO published its Position Paper on European Green Deal objectives in ports
14:02 CHIMBUSCO starts to supply China-produced low sulphur bunker oil to international ships
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13:01 BC Ferries names and christens the first two Island Class ferries
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