Grindrod Shipping announces ship sales

Grindrod Shipping Holdings announced the completion of the following transactions. “On May 25 we exercised the purchase option on the chartered-in 2016-built supramax bulk carrier, IVS Hayakita. On August 24 we entered into an en-bloc deal to sell the 2015-built ultramax bulk carrier, IVS Bosch Hoek and the 2016-built ultramax bulk carrier, IVS Hayakita, for $46.5M. The vessels were delivered to the new owners on September 19 and September 25 , respectively and approximately $10M debt was repaid on the Company’s $114.1M senior secured credit facility. On September 14 we entered into a contract to sell the 2013-built handysize bulk carrier, IVS Merlion, for $11.6 M with delivery to her new owners planned on or about December 15 .This vessel is unencumbered. We can provide no assurances that the delivery will take place by that time or at all. On September 27, we entered into a contract to sell the 2013-built handysize bulk carrier, IVS Raffles, for $11.6M with delivery to her new owners planned on or about November 30, 2023. This vessel is unencumbered. We can provide no assurances that the delivery will take place by that time or at all,” said the company.