Handymax

Grindrod Shipping Holdings Ltd. Announces Unaudited Financial Results for the Second Half and Full Year Ended December 31, 2023

Retrieved on: 
Wednesday, February 28, 2024
Acquisition, Ship, TCE, Safety, Sale, Handymax, Second Half, GAAP, EGM, Depreciation, TMI, Cryptocurrency

Unaudited Results for the Full Years Ended December 31, 2023 and 2022

Key Points: 
  • Unaudited Results for the Full Years Ended December 31, 2023 and 2022
    Revenue was $387.1 million for the year ended December 31, 2023 and $460.5 million for year ended December 31, 2022.
  • Administrative expense was $32.7 million for the year ended December 31, 2023 and $48.1 million for the year ended December 31, 2022.
  • Interest income was $2.8 million for the year ended December 31, 2023 and $2.2 million for the year ended December 31, 2022.
  • Interest expense was $17.1 million for the year ended December 31, 2023 and $17.1 million for the year ended December 31, 2022.

GOGL – Fourth Quarter 2023 Results

Retrieved on: 
Wednesday, February 28, 2024
TCE, Coal, Sale, Handymax

Net income of $57.5 million and earnings per share of $0.29 (basic) for the fourth quarter of 2023, compared with net income of $28.7 million and earnings per share of $0.14 (basic) for the third quarter of 2023.

Key Points: 
  • Net income of $57.5 million and earnings per share of $0.29 (basic) for the fourth quarter of 2023, compared with net income of $28.7 million and earnings per share of $0.14 (basic) for the third quarter of 2023.
  • Adjusted EBITDA of $123.2 million for the fourth quarter of 2023, compared with $78.9 million for the third quarter of 2023.
  • Adjusted net income of $64.6 million for the fourth quarter of 2023, compared to $22.0 million for the third quarter of 2023.
  • Reported TCE rates for Capesize and Panamax vessels of $25,176 per day and $16,738 per day, respectively, and $21,958 per day for the entire fleet in the fourth quarter of 2023.

Grindrod Shipping Holdings Ltd. Announces Ship Sales

Retrieved on: 
Thursday, January 25, 2024
Handymax, Airline

SINGAPORE, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company”), a global provider of maritime transportation services predominantly in the drybulk sector, announced the completion of the following transactions.

Key Points: 
  • SINGAPORE, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company”), a global provider of maritime transportation services predominantly in the drybulk sector, announced the completion of the following transactions.
  • We can provide no assurances that the delivery will take place by that time or at all.
  • On November 29, 2023, we delivered the 2013-built handysize bulk carrier, IVS Merlion, to her new owners.
  • We can provide no assurances that the delivery will take place by that time or at all.

Scorpio Tankers Inc. Announces an Agreement to Sell an MR Product Tanker and the Exercise of Purchase Options on Five Ships

Retrieved on: 
Tuesday, January 16, 2024
Pimlico, Handymax, Sale, STI, STNG, Ship

MONACO, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers” or the “Company”) announced today that it has entered into an agreement to sell an MR product tanker, and has exercised the purchase options on five ships.

Key Points: 
  • MONACO, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers” or the “Company”) announced today that it has entered into an agreement to sell an MR product tanker, and has exercised the purchase options on five ships.
  • The Company has entered into an agreement to sell the 2015 built MR product tanker, STI Tribeca, for $39.1 million.
  • The sale of this vessel is expected to close within the first quarter of 2024.
  • The Company has given notice to exercise its purchase options on one 2015 built MR product tanker (STI Westminster) and four 2014 built Handymax product tankers (STI Brixton, STI Comandante, STI Pimlico and STI Finchley).

Scorpio Tankers Inc. Announces Updates on Fourth Quarter 2023 Daily TCE Revenues and Debt and Lease Activity

Retrieved on: 
Wednesday, December 13, 2023
Topaz, Lease, STI, TCE, MRS, LR2, Handymax, Calendar, Petroleum jelly

Consequently, Expected Revenue Days represent the total number of days the vessel is expected to be available to earn revenue.

Key Points: 
  • Consequently, Expected Revenue Days represent the total number of days the vessel is expected to be available to earn revenue.
  • Idle days, which are days when a vessel is available to earn revenue, yet is not employed, are included in revenue days.
  • Four 2012 built MR product tankers (STI Ruby, STI Topaz, STI Garnet, and STI Onyx) that are currently financed as part of the BCFL Lease Financing (MRs).
  • The purchases are expected to occur in December 2023 and January 2024 for an aggregate amount of $29.0 million.

Grindrod Shipping Holdings Ltd. Announces Unaudited Financial Results for the Three Months and Nine Months Ended September 30, 2023

Retrieved on: 
Tuesday, November 28, 2023
Nine Months, TMI, BSI, Handymax, EGM, Sale, TCE, Acquisition, Insurance, Three Months, Asset, GAAP, Cryptocurrency

Unaudited Results for the nine months ended September 30, 2023 and 2022

Key Points: 
  • Unaudited Results for the nine months ended September 30, 2023 and 2022
    Revenue was $298.3 million for the nine months ended September 30, 2023 and $379.1 million for nine months ended September 30, 2022.
  • Interest income was $1.8 million for the nine months ended September 30, 2023 and $0.8 million for the nine months ended September 30, 2022.
  • Interest expense was $13.5 million for the nine months ended September 30, 2023 and $11.8 million for the nine months ended September 30, 2022.
  • Income tax expense was $0.3 million for the nine months ended September 30, 2023 and $0.4 million for the nine months ended September 30, 2022.

Platts of S&P Global Commodity Insights launches Dry Bulk Freight Index

Retrieved on: 
Tuesday, November 14, 2023
PDI, Index, Handymax, Coal, Copper, Steel, Manganese, COVID-19, Nickel, Iron ore, Cargo, Capesize

LONDON and NEW YORK and SINGAPORE, Nov. 14, 2023 /PRNewswire/ -- Platts, part of S&P Global Commodity Insights, the leading independent provider of information, analysis, data and benchmark prices for commodities, energy and energy transition markets, launched on November 1, 2023 the Platts Dry Index (PDI), a new combined dry bulk freight industry marker derived from weighted average time charter equivalent indices reflecting the Capesize, Panamax/ Kamsarmax, Ultramax and Supramax segments.

Key Points: 
  • The Platts Dry Index captures the demand for moving widely consumed dry bulk commodities such as grains, coal, chrome, copper, manganese, nickel, iron ore, steel, alumina, bauxite and spodumene.
  • It is based on trade flow volumes accrued on various dry bulk segments and provides an indicator of the performance of the global dry bulk shipping market, bringing transparency to this critical shipping sector.
  • With the new Platts Dry Index, freight market participants and financial investors with exposure to daily changes in dry bulk shipping prices now have the option of trading a basket of routes incorporating all vessel segments.
  • The Platts Dry Index - a unique dollars per day index that encompasses the Capesize, Panamax/ Kamsarmax, Ultramax and Supramax segments, offers market participants a reliable marker reflecting present day global trade flow volumes."

Grindrod Shipping Holdings Ltd. Announces Unaudited Financial Results for the Three Months and Six Months Ended June 30, 2023

Retrieved on: 
Tuesday, September 5, 2023
Insurance, Travel, TCE, JSE, TMI, EGM, GAAP, Frisbee, Sale, Ship, EBITDA, Acquisition, GDP, Growth, Handymax, Asset, Environment, Three Months, Rare-earth element, Tutoring, Holding company, Semiconductor, Bank, Airline, Cargo, Cryptocurrency, Tourism, Grindrod

Unaudited Results for the six months ended June 30, 2023 and 2022

Key Points: 
  • Unaudited Results for the six months ended June 30, 2023 and 2022
    Revenue was $185.9 million for the six months ended June 30, 2023 and $271.9 million for six months ended June 30, 2022.
  • Interest income was $1.0 million for the six months ended June 30, 2023 and $0.3 million for the six months ended June 30, 2022.
  • Interest expense was $9.0 million for the six months ended June 30, 2023 and $7.4 million for the six months ended June 30, 2022.
  • Profit for the six months ended June 30, 2023 was to $1.2 million and $85.8 million for the six months ended June 30, 2022.

Grindrod Shipping Holdings Ltd. Announces Ship Sales and Other Transactions

Retrieved on: 
Thursday, July 27, 2023
LON, JSE, Sale, Acquisition, Handymax, Airline, Insurance

SINGAPORE, July 27, 2023 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or "Company"), a global provider of maritime transportation services predominantly in the drybulk sector, announced the completion of the following transactions.

Key Points: 
  • SINGAPORE, July 27, 2023 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or "Company"), a global provider of maritime transportation services predominantly in the drybulk sector, announced the completion of the following transactions.
  • On May 4, 2023, we entered into a contract to charter-out the 2017-built supramax bulk carrier IVS Swinley Forest for 12 months.
  • On May 25, 2023, we exercised the purchase option on the chartered-in 2016-built supramax bulk carrier, IVS Hayakita, with delivery planned on or about September 28, 2023.
  • On June 6, 2023, the Company completed the previously disclosed sale of the 2014-built handysize bulk carrier, IVS Kestrel for $17.3 million (before costs).

Grindrod Shipping Holdings Ltd. Announces Unaudited Financial Results for the Three Months Ended March 31, 2023

Retrieved on: 
Wednesday, May 17, 2023
Insurance, Interim, Travel, Date, Handymax, Audit, Compensation, TCE, JSE, TMI, GAAP, Frisbee, Sale, EBITDA, GDP, Vulnerability and Risk Committee, Growth, Three Months, Committee, Rare-earth element, Holding company, Bank, Airline, Management, Cryptocurrency

Vessel revenue was $52.8 million for the three months ended March 31, 2023 and $110.2 million for the three months ended March 31, 2022.

Key Points: 
  • Vessel revenue was $52.8 million for the three months ended March 31, 2023 and $110.2 million for the three months ended March 31, 2022.
  • Interest expense was $4.5 million for the three months ended March 31, 2023 and $3.1 million for the three months ended March 31, 2022.
  • Loss for the three months ended March 31, 2023 was $4.3 million compared to a profit of $29.0 million for the three months ended March 31, 2022.
  • Net cash utilised in investing activities was $0.1 million for the three months ended March 31, 2023 and $0.0 million for the three months ended March 31, 2022.