Grindrod Shipping Holdings Ltd. 2019 Second Half and Full Year Financial Results
Grindrod Shipping Holdings Ltd. - Ordinary Shares (GRIN)
Company Research
Source: GlobeNewswire
SINGAPORE, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or "Company" or “we” or “us”), a global provider of maritime transportation services in the drybulk and product tanker sectors, today announced its second half and full year 2019 earnings results for the period ended December 31, 2019. Financial Highlights for the Second Half of the Year Ended December 31, 2019(1) Revenue of $163.8 million.Gross profit of $14.6 million.Adjusted EBITDA of $25.0 million(2).Loss for the period of $16.4 million or $0.86 per ordinary share.Loss impacted by $10.1 million of non-cash impairment charges.Handysize and supramax/ultramax TCE per day of $8,551 and $13,624, respectively, outperformed the Baltic Handysize TC Index (“BHSI”) and Baltic Supramax-58 TC Index (“BSI-58”) benchmarks by approximately 8.4% and 22.9%, respectively, in the second half of 2019(2)(3).Medium range (“MR”) product tanker TCE per day of $14,409 underperfor
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