Grindrod Shipping Holdings Ltd. First Half 2019 Financial Results
Grindrod Shipping Holdings Ltd. - Ordinary Shares (GRIN)
Company Research
Source: GlobeNewswire
SINGAPORE, Aug. 28, 2019 (GLOBE NEWSWIRE) -- Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company” or “we” or “us” or “our”), a global provider of maritime transportation services in the drybulk and product tanker sectors, today announced its first half 2019 earnings results for the period ended June 30, 2019. Financial Highlights for the first half of the year ended June 30, 2019 Revenues of $167.2 millionGross profit of $5.9 millionAdjusted EBITDA of $14.7 million(2)Loss for the period of ($19.0 million) or ($0.99) per ordinary share including a ($4.3) million impairment loss on vessel salesHandysize and Supramax/Ultramax TCE per day of $7,030 and $10,481, respectively, outperformed the Baltic Handysize TC Index (“BHSI”) and Baltic Supramax-58 TC Index (“BSI-58”) benchmarks by approximately 22.2% and 34.2% respectively(1)(2)Medium Range (“MR”) product tanker TCE per day of $14,276 outperformed Clarksons’ Avera
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