- 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.
For further details see:
Grindrod Shipping: Some Upside Potential, But Not Enough To Justify A Core Holding