New BEE partners for Grindrod

Apr 19, 2005
Author: P&S

Grindrod announced a reconfiguration of its black empowerment partners in the shipping industry earlier today (19 April 2005).

The immediate big change comes with Southern Tankers, which has on charter the tanker Southern Unity to BP and Shell. Grindrod recently dissolved its partnership with Dudula Shipping in Southern Tankers and has introduced the Holgoun Maritime Consortium, led by Sivi Gounden, who have a 25,1% share in the business.

The name Southern Tankers changes to Grindrod Shipping to reflect the change and broadening of its shipping activities.

According to Ivan Clark, Grindrod’s MD, it was important to reconfigure the consortium and to introduce a broad based and influential empowerment group into its South African shipping interests. The same consortium will also take up interests in Grindrod’s other South African shipping operations as well as related business in the shipping industry.

“Grindrod is a major player in South African shipping, and is a totally South African based company. With the introduction of broad based and influential partners it aims to develop its South African interests and to further its already well advanced shipping operations infrastructure, which employs a substantial number of South Africans in its land-based operations and on board its ships,” said Clark.

He said that Grindrod has over many years supported the training of South African seagoing officers and crew and would continue to do this.

“Grindrod continues to support maritime education, both at school and tertiary levels and international maritime organisations such as the Institute of Chartered Shipbrokers, International Sailors Society and NSRI and many other organisations involved in maritime matters in the country.”

He said the partnership is yet another step in Grindrod’s stated intentions of supporting the local maritime industry.

Current endeavours to make South Africa more friendly to international and local shipowners and operators such as fiscal and legal changes and the employment of South Africans on ships worldwide was welcomed and Grindrod would develop this initiative with all players in the industry on a co-operative basis, he said.

Sivi Gounden, who heads up the BEE consortium said this was a powerful and important step forward into South African shipping and that his consortium looked forward to not only introducing black economic empowerment but also substantial value to the commercial and economic growth of the industry.

Gounden was elected a non-executive director of Grindrod in December 2004. He is CEO of Bateman BV, a global process engineering company where he is responsible for its worldwide operations. He also serves as a director of Anglo American SA and various other companies.

Holgoun Consortium consists of Uluntu Holdings, Broad Based Women’s Group, Sivi Gounden, Hassen Adams, Nomazizi Mtshotshisa, J&J Group and Sechaba Burial Society.


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