GRIN - Grindrod Shipping: Shifting To Longer-Term Value Play

• I still hold GRIN and have suffered losses. But still believe in the stock, just shifting my focus to a longer investment horizon.
• GRIN falls in line with the Baltic Exchange Dry Index. But the stock has become indecently undervalued with a P/E ratio of 2.26x and an EV/EBITDA of 2.33x.
• Grindrod Shipping has a fairly young fleet - this is undoubtedly one of the company's key competitive advantages compared to other representatives of this sector.
• I expect a) a post-report rebound in GRIN's quotes and b) upcoming revisions over the next quarter.
• Anyway, I continue to hold GRIN, but I no longer consider it a medium-term swing trading idea - it's a longer-term value play.

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