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GRIN - Grindrod Shipping: Some Upside Potential But Not Enough To Justify A Core Holding
Grindrod Shipping Holdings Ltd.
The company has a very young fleet, with only 7 out of their 32 vessels being older.
However, it seems that it will live to go through this market cycle without divesting its older vessels, due to high asset prices and spot market volatility.
The dividend policy can be regarded as a positive one, although past performance indicates that it may not hold for long.
A tide lifts all boats, and it will also lift Grindrod. But don't expect much more than that.