Grindrod Shipping: Announcing the Closing of IVS Bulk Financing and IVS Phoenix Acquisition




Washington, DC 20549




For the month of September 2021

Commission file number 001-38440

Grindrod Shipping Holdings Ltd.

# 03-01 South Point

200, route du cantononnement

Singapore 089763

(Address of the main executive offices)

Indicate by checking whether the declarant files or will file annual reports under the cover of Form 20-F or Form 40-F.

Form 20-F?? Form 40-F??

Indicate with a check mark whether the declarant is submitting Form 6-K on paper, as permitted by rule 101 (b) (1) of the ST Regulation: ??.

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Indicate with a check mark whether the declarant is submitting Form 6-K on paper, as permitted by Rule 101 (b) (7) of the ST Regulation: ??.

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A copy of the press release from Grindrod Shipping Holdings Ltd. announcing the closing of the IVS block financing and IVS Phoenix Acquisition.


99.1 Press release of September 17, 2021


In accordance with the requirements of the Securities Exchange Act of 1934, the declarant has duly caused this report to be signed on his behalf by the undersigned, duly authorized for this purpose.


As of: September 17, 2021

/ s / Stephen Griffiths

Name: Stephen Griffiths

Title: Chief Financial Officer

Room 99.1

Grindrod Shipping Holdings Ltd. announces the closing of IVS block financing and IVS Phoenix Acquisition

Singapore, September 17, 2021: – Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company” or “it” or “we”), a global provider of shipping services primarily to the dry bulk industry, announced the following operations .

September 15e, 2021, together with the previously announced acquisition of the remaining 31.14% stake in its joint venture IVS Bulk (“IVS Bulk”) and the simultaneous buyback of the IVS Bulk preferred shares on September 1, 2021, the Company closed on l ” increasing one of its existing IVS Bulk credit facilities to replace the working capital used to finance the transaction. The new debt is on the same terms as the existing facility.

September 16e, 2021, the Company has completed the acquisition and simultaneous financing of the 2019 Japanese-built ultramax bulk carrier IVS Phoenix. As previously reported, the vessel was already part of Grindrod Shipping’s base fleet and was initially chartered for a minimum period of three years from delivery with two one-year extensions and no purchase options. At closing, the company acquired the vessel for $ 23.5 million, which we believe reflects a significantly reduced price compared to management’s estimate of the vessel’s fair market value due to the termination. advance notice of the charter agreement in force. The Group has simultaneously entered into a financing agreement with a separate third party in Japan at attractive conditions for a net amount of $ 25.0 million. As part of the financing agreement, the Group will charter the bareboat vessel for a period of up to 15 years and has the right, but not the obligation, to acquire the vessel after the first two years of l ‘charter.

About Grindrod Shipping Holdings Ltd.

Grindrod Shipping operates a fleet of long-term and short-term dry bulk owned and chartered vessels, primarily in the handysize and supramax / ultramax segments. The dry bulk transport business, which operates under the brand name “Island View Shipping” (“IVS”), comprises a main fleet of 31 vessels consisting of 15 conveniently sized dry bulk carriers and 16 supramax dry bulk carriers. / ultramax. The Company also owns a medium-range tanker on bareboat charter. The company is headquartered in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping is listed on the NASDAQ under the ticker “GRIN” and on the JSE under the ticker “GSH”.

Forward-looking statements

Statements in this press release that are not historical facts may be forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe havens for forward-looking statements to encourage companies to provide forward-looking information about their activities. The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this caveat as part of such safe harbor legislation. The forward-looking statements contained in this press release are based on various assumptions, including, without limitation, management’s review of Grindrod Shipping of historical trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, as these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of the Company, the Company can not assure you that it will meet or fulfill these expectations. , beliefs or projections. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, among others, those discussed in public documents filed by Grindrod Shipping with the SEC. Except as required by law, Grindrod Shipping assumes no obligation to publicly update or publish revisions of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unforeseen events.

Company details :

Investor Relations / Media Contact:

Martyn Wade / Stephen Griffiths

Nicolas Bornozis / Daniela Guerrero


Capital Link, Inc.

Grindrod Shipping Holdings Ltd.

230, avenue du Parc, office 1536

200 Cantonment Road, # 03-01 Southpoint

New York, New York 10169

Singapore, 089763

Phone. : (212) 661-7566

E-mail: [email protected]

Fax: (212) 661-7526


E-mail: [email protected]



Grindrod Shipping Holdings Ltd. published this content on September 20, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 20, 2021 07:01:06 AM UTC.


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