Grindrod Shipping Stock Price, News & Analysis

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) has updated its share repurchase activities, acquiring 108,818 shares between December 9-17, 2021, at an average price of $15.20, totaling $1.7 million. This brings fourth-quarter repurchases to 700,491 shares for approximately $10 million. Year-to-date repurchases amount to 825,163 shares, representing 4.3% of outstanding shares. The company highlights that future repurchases will depend on market conditions and legal requirements, with authority expiring at the next Annual General Meeting unless renewed.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) has announced the acquisition of 591,673 ordinary shares through open market transactions, totaling $8.5 million, at an average price of $14.38 per share. This repurchase, representing 3.1% of outstanding shares, aligns with the company's capital return policy and reflects its commitment to enhancing shareholder value. The buyback period occurred from November 19 to December 8, 2021. Future repurchases will depend on market conditions and legal requirements.

Grindrod Shipping (NASDAQ: GRIN) reported significant financial growth in Q3 2021, boasting revenues of $135.1 million and a profit of $49.1 million, up from a loss of $14.7 million in Q3 2020. The company declared an interim cash dividend of $0.72 per share, representing about 30% of net income for the quarter. The average TCE for Handysize and Supramax/Ultramax reached $25,919 and $29,934, respectively. Despite rising operational costs, notably in charter expenses, Grindrod remains well-positioned for future growth with an efficient fleet and a robust dry bulk market.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) announced its third quarter 2021 financial results will be released on November 17, 2021, after market close. A conference call to discuss the results is scheduled for November 18, 2021, at 8:00 a.m. ET. The company operates a fleet of drybulk vessels and product tankers, with a core fleet of 31 vessels. Interested participants can access the call via various dial-in numbers or through a live webcast on the company's website. More details, including slides, will be available prior to the call.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) announced the pricing of a secondary public offering of 1,841,962 ordinary shares at $13.50 per share, totaling approximately $24.87 million. The offering, set to close on September 27, 2021, involves existing shareholders as the sellers, and the company will not receive any proceeds. Jefferies is the sole book-running manager, with Noble Capital Markets as co-manager. The offering was conducted under an effective shelf registration filed with the SEC.

On September 22, 2021, Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) announced a secondary offering of 1,841,962 ordinary shares by existing shareholders. The company will not receive any proceeds from this sale. Jefferies LLC is the sole book-running manager, while Noble Capital Markets, Inc. serves as co-manager. The offering's completion is subject to market conditions, with no assurance on its timing or terms. Grindrod Shipping operates a diverse fleet in the drybulk shipping sector, primarily under the brand 'Island View Shipping.'

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) announced the completion of key transactions on September 15 and 16, 2021. The company acquired the remaining 31.14% stake in its IVS Bulk joint venture, funded by a $23 million upsized credit facility. Additionally, it purchased the ultramax bulk carrier IVS Phoenix for $23.5 million, viewed as a significant discount relative to market value. A financing arrangement of $25 million was secured, allowing a bareboat charter for up to 15 years, with an option to purchase the vessel after two years.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) announced the completion of its acquisition of the remaining 31.14% equity stake in IVS Bulk, as well as the redemption of preference shares, effective September 1, 2021. The transaction was financed using cash on hand and is set to be supplemented by a $23 million credit facility upsize by September 30, 2021. Additionally, the company extended its charter period for the IVS Pinehurst vessel and repurchased 91,871 ordinary shares at an average price of $14.87. The overall impact positions Grindrod Shipping for enhanced operational control and potential revenue growth.

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) reported strong financial results for Q2 2021, revealing revenues of $159.4 million and a profit of $24.2 million, compared to a loss of $13.3 million in Q2 2020. For the first half of 2021, revenues reached $231.2 million with profits of $27.6 million, driven by increased TCE rates in the drybulk sector. The company's adjusted EBITDA was $40.7 million for Q2 and $62.5 million for H1. Grindrod Shipping also announced a new dividend policy, aiming to return 30% of adjusted net income to shareholders starting Q3 2021.