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GNDE - Grindrod scoops international shipping award For 2

21/06/2006 17:16:16

GND
GND
Grindrod scoops international shipping award For 2nd consecutive year
Grindrod Limited
Share code: GND
ISIN: ZAE000072328
PRESS ANNOUNCEMENT
21 June 2006
Grindrod scoops international shipping award For 2nd consecutive year
Grindrod, South Africa"s leading shipping and logistics group again swept aside
the field to win Marine Money International Listed Shipping Company of the Year
Award at a gala function held in New York yesterday.
Grindrod beat some 150 shipping companies listed throughout the world as ranked
by Marine Money International, America"s largest shipping finance publication.
Ivan Clark, Grindrod CEO speaking from New York yesterday said "it is a feather
in the cap for both Grindrod as a company and South Africa as a country that a
South African based shipping group could beat the best in the world and to top
it all it was great to win the award race for the 2nd consecutive year".
He attended the award winning function hosted by Marine Money and the world top
shipping banks with Alan Olivier, Grindrod"s Chief Executive Officer designate
and Tim McClure the Managing Director of Island View Shipping.
The two day shipping event attracts over 500 of the world"s shipping fraternity
to New York each year.
The rating is based on a number of financial achievements including growth on
earnings, return on shareholders funds, growth in shareholders equity and other
factors and reflects the remarkable performance of Grindrods not only on the JSE
Securities Exchange but on the world"s shipping arena where it is seen as one of
the world"s blue chip shipping companies.
Clark went on to say, "And I don"t think it is over yet, although we have
advised investors that our earnings growth will be at lower levels in 2006 and
2007, we are sitting on a wonderful base of low cost ships, very little debt and
a transport logistics platform of companies which have not yet reached their
full potential. We will continue to create shareholder growth."
Alan Olivier the CEO designate went on to add "We as the Executive of Grindrods
have now got a first class world player with a substantial portfolio of ships
and logistics businesses which we are confident will grow better and bigger
going into the future."
Tim McClure the MD of Island View Shipping was also delighted and said he could
see no reason why dry bulk shipping markets wouldn"t maintain good levels and
therefore the outstanding performance of Island View Shipping being repeated in
the future.
Contact:
Ivan Clark 082 891 3587
Alan Olivier 083 252 9600
Tim McClure 083 251 4971
Date: 21/06/2006 05:16:23 PM Produced by the JSE SENS Department


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