History

Captain John Grindrod establishes Grindrod & Company, a clearing and forwarding agency that would grow into a company with diverse operations, including a Shipping Division with globally recognised operational brands – IVS and Unicorn Shipping.

The “Wall Street Crash” begins the so-called Great Depression, as global shipping lines suffer the consequences of declining trade and passenger numbers. The fledgeling Grindrod shipping enterprise was also affected.

Shipping services are severely dislocated by World War 2. (This included those services operated by African Coasters, some of whose vessels were involved in moving military cargoes.)

South African mining house, Union Corporation, buys a 51 percent shareholding in African Coasters, allowing the company to modernise its fleet. The shareholding was later repurchased, returning control of the company to Grindrod.

Unicorn buys another South African coasting company, Thesen’s Steamship Company, giving the company a major portion of southern African coastal shipping services.

The company pioneers containerisation in South Africa and establishes the country’s first container depot and fully containerised coastal container shipping service. (Today, Ocean Africa Container Lines - OACL - provides a container feeder service between ports in Mozambique, South Africa, Namibia and Angola.)

Through acquisition, Grindrod expands its ships’ agency operations

Unrest in Soweto (near Johannesburg) and the subsequent loss of life escalates the wave of anti-apartheid sanctions against South Africa. This begins to take its toll on international shipping operations and the company’s coastal services.

Successful negotiations conclude with the purchase of shares in African Coasters Holdings, held by a South African mining house, thus ensuring that control of Unicorn Lines returns to the Grindrod Group.

The company lists on the Johannesburg Stock Exchange through a newly-established holding company, Grindrod Unicorn Group Ltd, known as Grincor. At 31 December 2017, the company’s market capitalisation was in excess of R10.4 billion.

Successful negotiations see the repurchase of 40 percent of Unicorn shares, returning full control over the company to Grindrod. Through the purchase of the Durban-based Island View Shipping (IVS), the group enters the dry bulk shipping sector.

Global shipping markets begin an upward trend that became the largest shipping boom in history. Grindrod share price increases markedly.

Grindrod wins the Marine Money Award as the top listed international shipping company.

Grindrod wins the top position in the Sunday Times/Business Times Top 100 Companies.

The company invests in Maputo Port Development Company. This establishes a base for further investments in dry-bulk and car terminals.

Grindrod is the Top Company in Financial Mail’s prestigious Top 20 list, ranked according to historical financial performance and an assessment of future prospects.

Grindrod concludes a major Black Economic Empowerment (BEE) with Brimstone, Calulo and Adopt-a-School Foundation.

Grindrod achieves the Sunday Times/Business Times Top-Listed Company Award over 10 years

The shipping decline continues, adversely affecting worldwide operations. Yet Grindrod achieves good results.

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.

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