Business structure

as at 31 December 2017

Freight Services^

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Freight Services invests in and manages infrastructure and resources to achieve its mission to be the preferred provider of a broad range of freight logistics services, mainly on the African continent. The division integrates group infrastructure and logistics and freight-agency services to move dry- and liquid-bulk commodities, vehicles and containers along import/export corridors. The integration of logistics infrastructure includes port operations, terminals, stevedoring, intermodal solutions, warehousing, distribution, road transportation, freight-agency services and the supply of marine fuels and lubricants.

Port operations comprise an equity investment in Maputo Port Development Company (MPDC), in partnership with the Ports and Railway Company of Mozambique (CFM), Dubai Ports World (DPW) and Mozambique Gestores SARL.

Terminals in Maputo, Richards Bay, Durban, Cape Town and Walvis Bay have combined throughput capacities in excess of 15mtpa dry bulk, 280 000m3 liquid bulk and 120 000 vehicles a year. Stevedoring services are also provided.

Integrated Logistics manages the transportation of vehicles and fuel through its fleet of specialised vehicles and provides containerised cargo and cargo-handling services. Warehouse depots have a storage capacity for 24 600 TEU and 120 000 tons of cargo.

Ships agency and clearing and forwarding provides freight-clearing and forwarding and ships-agency services.

Seafreight, through OACL, provides a coastal shipping service calling on major ports in South Africa, Mozambique, Namibia and Angola. In addition OACL operates multi-purpose terminals in Durban that cater to containerised, break-bulk and bulk cargoes, including warehousing and distribution.

Agricultural Logistics provides inputs to agricultural producers as well as market access and storage and logistics of bulk agricultural products.

Marine fuel Cockett Group is a global reseller of marine fuel products, including physical supply at select locations through its subsidiary V-Marine Fuels, and is a joint venture between Grindrod and Vitol.

^ – includes discontinued rail services not detailed in the table above.
* Excludes revenue and assets of discontinued operations.


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Shipping operates a diversified fleet of owned, long-term chartered and joint-venture dry-bulk and liquid-bulk vessels across the world.

Island View Shipping (IVS) operates and commercially manages owned and long-term chartered handysize and supramax dry-bulk carriers. This fleet comprises 33 vessels, including 15 in joint ventures. In addition, a number of third-party vessels are commercially managed in the IVS pool.

Unicorn Shipping owns and long-term charters 15 medium-range and small-products tankers, including six in joint ventures.

Ship-operating complements the dry-bulk services with shorter-term parcel services, using supramax bulk carriers, and liquid bulk services using three liquid-bulk coastal carriers.

* discontinued operation due to Spin-off.

Financial Services

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The Financial Services division provides niche investment, asset management, loan finance and retail services through Grindrod Bank and GFS Holdings as holding company for the asset management business.

Grindrod Bank is an authorised financial-services credit provider regulated by the SARB.

Banking products include secured and mezzanine loans, corporate finance services, preference-share investments, treasury deposits as well as retail card services.

Non-bank financial services include medium-term private equity investments (property and equity), third-party asset management services and a suite of 10 CoreShare Index Tracker Manager ETFs.

Bridge Fund Managers, a subsidiary of Infinitus Holdings Proprietary Limited, is a registered investment management company and an FSB authorised financial services provider holding Category I and II licences. It provides bespoke investment management, stockbroking, financial planning and fiduciary services to individuals, family trusts and educational and charitable institutions. It also manages investments on behalf of institutional investors and pension funds in segregated portfolios, and a suite of three offshore US$-denominated unit trusts and eleven local collective investment schemes.

* Excludes assets of discontinued operations.