Grindrod Shipping Holdings Ltd. Announces Fleet Update – Extension of IVS Pinehurst
04 December 2020 - 8:05AM
Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH)
(“Grindrod Shipping” or "Company" or “it” or “we” or “our”), a
global provider of maritime transportation services in the drybulk
and product tanker sectors, announced that the Company has agreed
to extend the firm charter-in period of the 2015-built supramax
drybulk vessel IVS Pinehurst for 11 to 13 months, starting from
November 15, 2020. The Company has a further option to extend the
charter for an additional 11 to 13 months and retains the existing
purchase option to acquire the vessel at a fixed price in the
future.
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 15 handysize drybulk carriers and 15
supramax/ultramax drybulk carriers on the water with one
chartered-in ultramax drybulk carrier under construction in Japan
due to be delivered between 4Q 2020 and 1Q 2021. The tanker
business, which operates under the brand “Unicorn Shipping”
(“Unicorn”) includes a fleet of three medium range tankers and one
small tanker. The Company is based in Singapore, with offices in
London, Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping
is listed on NASDAQ under the ticker “GRIN” and on the JSE under
the ticker “GSH”.
Forward-Looking Statements
The statements in this press release that are
not historical facts may be forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage
companies to provide prospective information about their business.
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The forward-looking statements in this press
release are based upon various assumptions, including, without
limitation, Grindrod Shipping management's examination of
historical trends, data contained in the Company's records and
other data available from third parties. Although the Company
believes that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond the Company's control, the Company cannot
assure you that it will achieve or accomplish these expectations,
beliefs or projections. These forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those discussed in the forward-looking statements.
These risks and uncertainties include, among others, those
discussed in Grindrod Shipping's public filings with the SEC.
Except as required by law, Grindrod Shipping undertakes no
obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after
the date of this press release or to reflect the occurrence of
unanticipated events.
Company Contact:Martyn Wade / Stephen GriffithsCEO
/ CFOGrindrod Shipping Holdings Ltd.200 Cantonment Road, #03-01
SouthpointSingapore, 089763Email: ir@grindrodshipping.comWebsite:
www.grinshipping.com |
Investor Relations / Media Contact: Nicolas
Bornozis / Daniela GuerreroCapital Link, Inc. 230 Park Avenue,
Suite 1536 New York, N.Y. 10169 Tel.: (212) 661-7566 Fax: (212)
661-7526 Email: grindrod@capitallink.com |
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