Grindrod – our story

1910

January 1, 1910
Captain John Grindrod establishes a clearing and forwarding agency that would grow into a company with a current annual turnover of R24.9 billion (inclusive of joint ventures) and total assets of R39.1 billion (inclusive of joint ventures).

1922

January 1, 1922
John Grindrod and Leon Renaud buy a
150-tonne steamship.

1933

January 1, 1933
The company is appointed as ships agent for African Coasters, established by Leon Renaud.

1966

January 1, 1966
African Coasters merges with Thesen’s Steamship Company to form Unicorn Lines. Today, Unicorn Shipping owns and long-term charters 18 medium-range and
small-products tankers.

1971

January 1, 1971
The company pioneers containerisation in the country and establishes the first container depot and service. Today Ocean Africa Container Lines (OACL) provides a container feeder service between ports in Mozambique, South Africa, Namibia and Angola.

1986

January 1, 1986
The company lists its shares on the Johannesburg Stock Exchange through a newly established holding company, Grindrod Unicorn Group Limited, known as Grincor. At 31 December 2016 the company’s market capitalisation was in excess of R10.2 billion.

1999

January 1, 1999
The company purchases dry-bulk charterer Island View Shipping (IVS). Today, IVS operates and commercially manages 42 owned and long-term chartered handysize, supramax and capesize dry-bulk carriers, with one fuel- and emissions-friendly supramax carrier on order, all commercially managed.

2001

January 1, 2001
The company changes its name to Grindrod Limited.

2003

January 1, 2003
The company’s initial investment in the Richards Bay
dry-bulk terminals becomes operational
. Today, these terminals have a 6.1 million tonnes capacity.

2005

January 1, 2005
Grindrod acquires Marriott Corporate Property Bank, which today trades as Grindrod Bank and Bridge Fund Managers, with total assets under management of R17.37 billion.

2007

January 1, 2007
The company invests in the Maputo Port Development Company, which today manages a port throughput of 14.9 million tonnes a year. This investment established a base for further investments in dry-bulk and car terminals, which today have an annual terminal throughput capacity of 15.2 million tonnes dry bulk and 120 000 vehicles.

2009

January 1, 2009
Grindrod concludes a major black economic empowerment (BEE) transaction with Calulo and Adopt-a-School Foundation, incorporating the majority of the South African based freight services activities.

2011

January 1, 2011
Grindrod enters into a R2 billion equity raising transaction underwritten by Remgro Limited to support the group’s strategic development of capital projects in Southern Africa.

2014

January 1, 2014
The company streamlines its freight and logistics services offering by closing its Trading division. It gears for infrastructure expansion, mainly into the African continent, through a R4.0 billion capital raise, which included a R1.6 billion B-BBEE consortium transaction, to fund planned investments of R10.0 billion.

2016

January 1, 2015

Projects targeting diversification gain traction, but major long-term projects are not initiated due to depressed commodity markets.


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