Grindrod Shipping is a Singapore-based international drybulk shipping company that owns and operates a fleet of drybulk carriers transporting coal, grain, ores, steel products, fertilizers, and forestry products across global shipping routes. Grindrod operates 24 vessels — 17 owned and 7 on long-term charter-in arrangements — with total carrying capacity of approximately 1.2 million deadweight tons. The fleet focuses on two vessel size categories: Handysize vessels (~28,000–40,000 dwt) suited for regional routes and smaller cargo parcels, and Supramax/Ultramax vessels (~57,000–64,000 dwt) used for bulk commodity trade on longer routes. All vessels are Japanese-built, which Grindrod argues improves fuel efficiency, reliability, and resale value. Grindrod earns revenue primarily through charter hire — the daily rate paid to use a vessel — and employs most of its fleet through two commercial pools, the IVS Handysize Pool and the IVS Supramax Pool, which aggregate vessel earnings and improve utilization. Because most vessels trade in the spot market, earnings are directly exposed to freight rate volatility. Grindrod also uses contracts of affreightment to provide some revenue predictability, and has operated a parcel-cargo service for over 40 years. Following its October 2023 acquisition of Taylor Maritime Management and Tamar Ship Management, Grindrod technically manages over 40 vessels and earns third-party management fees. Vessel trading — buying and selling secondhand vessels across the cycle — is also an explicit part of Grindrod's strategy.