Grindrod Shipping Holdings has worked some magic with Island View Shipping (IVS) Bulk to prime its coffers and better its fleet.
The Martyn Wade-led player in drybulk and tanker shipping sectors has pulled several levers with the subsidiary throughout the month, starting off with an IVS ultramax.
Grindrod on 3 June took delivery of the 60,200-dwt IVS Phoenix (built 2019) and is chartering it in from owner IVS Bulk for at least three years with the option to add two more years.
