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Grindrod Shipping Holdings Ltd. Announces Disclosure Update
GRINDROD SHIPPING HOLDINGS LTD.
ABBREVIATED NAME: GRINSHIP
Registered in Singapore with registration number 201731497H
JSE Share code: GSH
ISIN: SG9999019087
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board
Grindrod Shipping Holdings Ltd. Announces Disclosure Update
On 26 January 2024, Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) ("Grindrod Shipping" or
"Company" or "we" or "us" or "our"), a global provider of maritime transportation services predominantly in the
drybulk sector, provided the following update.
As previously announced, Taylor Maritime Investments Limited (LON: TMI) ("TMI"), through a wholly-owned
subsidiary, has acquired approximately 83.23% of the outstanding shares of Grindrod Shipping Holdings Ltd.
(NASDAQ: GRIN) (JSE: GSH) ("Grindrod Shipping"). TMI publishes from time to time annual and quarterly financial
information as well as other important information concerning its business on the London Stock Exchange website,
TMI's website (https://taylormaritimeinvestments.com) and elsewhere. Such information may include financial and
other information concerning Grindrod Shipping. For example, today, TMI published a quarterly NAV announcement
and trading update, factsheet and investor presentation on the London Stock Exchange and its website which
included information regarding Grindrod Shipping. Such information is not included as part of, or incorporated by
reference in, this 6-K or any of Grindrod Shipping's public filings or press releases.
TMI's quarterly NAV announcement referenced above notes that the blended net time charter equivalent ("TCE")
across the TMI and Grindrod Shipping fleet increased c.15% to an average TCE rate of US$11,977 per day for the
quarter. At quarter end, the combined average TCE was US$11,996 per day (versus US$10,695 at September 30,
2023).
Overall, the combined Handysize fleet and Supra/Ultramax fleet outperformed the Company's benchmark indices
by c.US$1,896 per day (22%) and c.US$2,734 per day (24%), respectively, for the 2023 calendar year. TMI uses
adjusted BHSI and BSI Time Charter Average ("TCA") figures net of commissions and weighted according to average
dwt of the Group's combined Handysize and Supra/Ultramax fleets, respectively.
About Grindrod Shipping
Grindrod Shipping predominantly owns and operates a diversified fleet of owned and long-term and short-
term chartered-in drybulk vessels. The drybulk business, which operates under the brand "Island View
Shipping" ("IVS") includes a core fleet of handysize and supramax/ultramax drybulk carriers. The Company is
based in Singapore, with offices in London, Durban, Tokyo and Rotterdam. Grindrod Shipping is listed on
NASDAQ under the ticker "GRIN" and on the JSE under the ticker "GSH".
Company Contact: Investor Relations / Media Contact:
Edward Buttery CEO
Grindrod Shipping Holdings Ltd. Grindrod Shipping Holdings Ltd.
1 Temasek Avenue, #10-02 Millenia Tower 1 Temasek Avenue, #10-02 Millenia Tower
Singapore, 039192 Singapore, 039192
Email: ir@grindrodshipping.com Email: ir@grindrodshipping.com
Website: www.grinshipping.com Website: www.grinshipping.com
By order of the Board
26 January 2024
Sponsor: Grindrod Bank Limited
Date: 26-01-2024 02:30:00
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