Lucky break for Medcare leads to rare buy of Grindrod tanker

Medcare Shipping has made its first tanker purchase in at least 15 years, picking up a MR that had been in the fleet of Grindrod Shipping.

The Athens-based company has agreed to buy the 39,700-dwt Rhino (built 2010) for about $15.5m, market sources told TradeWinds.

Nasdaq-listed Grindrod was reported to have sold the Rhino in early March to unidentified buyers at about $16m.