Grindrod Shipping extends IVS Pinehurst charter-in period

4th December 2020 By: Tasneem Bulbulia - Creamer Media Reporter

Dual-listed Grindrod Shipping has agreed to extend the firm charter-in period of the 2015-built supramax drybulk vessel IVS Pinehurst for 11 to 13 months, starting from November 15.

The company has a further option to extend the charter for an additional 11 to 13 months and retains the existing purchase option to acquire the vessel at a fixed price in the future.

Grindrod Shipping owns and operates 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 brand “Island View Shipping”, includes a fleet of 15 handysize drybulk carriers and 15 supramax/ultramax drybulk carriers on the water, with one chartered-in ultramax drybulk carrier under construction in Japan due to be delivered between quarter four 2020 and quarter one 2021.