Grindrod Shipping Seals Transaction With a Japanese Ship Owner

Nasdaq-listed Grindrod Shipping has sealed a sale and leaseback transaction with a Japanese ship owner.
The transaction is for 2010-built 33,100 dwt handysize dry bulk carrier IVS Knot.
Vessel was sold for $13m having a bareboat charter for a period of up to 11 years, with options to extend for up to two additional years.
IVS Knot strengthens Grindrod Shipping’s liquidity by approximately $13.8 million.
Strategic alternatives for IVS Bulk are still under discussion.

Nasdaq-listed Grindrod...