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IVS Bulk now solely owned by Grindrod

Grindrod Shipping Holding Ltd has acquired the remaining 31.14 % of the joint venture IVS Bulk from Bain Capital Credit.

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IVS Bulk now solely owned by Grindrod

For a total of US$46.3M, Grindrod Shipping Holding Ltd in Singapore has bought the remaining 31.14 % of the joint venture IVS Bulk (Bulk Island View shipping) from Bain Capital Credit.

 

“The acquisition of the remaining shares in IVS Bulk represents a critical step in the growth and development of Grindrod Shipping at a time of very strong freight rates in the dry bulk industry,” said Martyn Wade, CEO of Grindrod Shipping.

 

Including IVS Bulk, Grindrod Shipping now operates a fleet of 31 bulkers and one product tanker.

 

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