Grindrod has bought the remaining 50 percent in Cockett Marine Oil that it did not already own for an undisclosed amount, the JSE-listed shipping and logistics business said yesterday. Established more than 20 years ago, Cockett Marine Oil has offices in UK, Singapore, South Africa, the US, Monaco, Russia, Brazil and Panama. The firm is one of the world's top suppliers of bunkers and marine lubricants to shipowners, operators, managers, charterers and private owners worldwide.
It supplies roughly 5 million tons of lubricants a year and has a turnover of about $1 billion (R7.8 billion).
It supplies roughly 5 million tons of lubricants a year and has a turnover of about $1 billion (R7.8 billion).