Grindrod Shipping Holdings (GRIN) has released an update.
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Grindrod Shipping Holdings Ltd. has seen a positive quarter with their net time charter equivalent rate increasing by approximately 7% over the previous quarter, reaching an average rate of $13,264 per day. The company’s combined fleet with Taylor Maritime Investments Limited (TMI) has capitalized on improving market conditions, securing higher rates and outperforming benchmark indices. Additionally, Grindrod Shipping reported a relatively stable debt-to-assets ratio and has successfully engaged in significant transactions including the extension of a charter, a new charter contract, and the sale of a vessel at a premium to its fair market value.
For further insights into GRIN stock, check out TipRanks’ Stock Analysis page.
