Our story

2017

The company announces the investigation of the potential to spin-off its Shipping division following the turn in the shipping cycle in conjunction with the repositioning of its other divisions to unlock shareholder value.

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 R21.3 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 15 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 2017 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 33 owned and long-term chartered handysize and supramax dry-bulk carriers.

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 its asset management business run through Bridge Fund Managers and Coreshares with total assets under management of R19.9 billion..

2007

January 1, 2007

The company invests in the Maputo Port Development Company, which in 2017 managed a record port throughput of 18.2 million tonnes. This 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 Brimstone, Calulo and Adopt-a-School Foundation.

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 strategic investments.

2016

January 1, 2015

The company restructures its Terminals and Logistics businesses due to prolonged weak commodity markets and closes the Rail manufacturing and assembly businesses.