Nasdaq- and JSE-listed maritime transportation services provider Grindrod Shipping has taken delivery of the first of two new ultramax “eco” drybulk carriers that will operate under its Island View Shipping (IVS) brand.
The group took delivery of IVS Okudogo on Thursday and expects to take delivery of IVS Prestwick next month.
Grindrod has also announced that it has drawn $15.7-million towards financing for IVS Okudogo, from a previously announced $31.4-million indicative new building financing facility with IYO Bank.
The balance of the financing facility remains available for the purchase of the IVS Prestwick.
Grindrod Shipping owns and operators a diversified fleet of owned and long-term and short-term chartered-in drybulk vessels and product tankers.
The drybulk business, which operates under the IVS brand, includes a fleet of 17 handysize drybulk carriers and 14 supramax/ultramax drybulk carriers on the water, including IVS Okudogo, with three ultramax drybulk carriers under construction in Japan, which are due to be delivered in 2019 and 2020.
The tanker business, which operates under the brand Unicorn Shipping, includes a fleet of seven medium-range tankers and two small tankers.