Grindrod Shipping has agreed a third sale and leaseback deal with Japanese principals for one of its handysize bulkers.
The latest transaction involves the 28,200-dwt IVS Magpie (built 2011) and will see Grindrod receive $10.3m from an unnamed Japanese shipowner.
The US-listed shipowner will then take the vessel back on a bareboat charter of up to 12 years at an undisclosed rate.
