Grindrod changes its BEE partner

News-in-print

South African shipping and logistics company Grindrod has severed its agreement with black empowerment enterprise (BEE) Dudula Shipping Company in favour of a new deal with the Holgoun Maritime Consortium (HMC).

Holgoun has taken Dudula’s 25 per cent stake in the company’s shipping offshoot, Southern Tankers, which is to be renamed Grindrod Shipping, and is expected to take stakes in other parts of the company. None of the three companies involved released details of the purchase price but it is hoped that the deal will enable Grindrod Shipping to expand its operations.

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