Taylor Maritime completed the acquisition of Grindrod Shipping for $506m.

Taylor Maritime, an internally managed investment company, completed the acquisition of Grindrod Shipping, a logistics company, for $506m. "The proposed acquisition of Grindrod Shipping, which is expected to be NAV and earnings accretive, represents an exciting opportunity to combine the fleets of both companies to create a significant owner of medium-sized dry-bulk ships. We should benefit from economies of scale from a larger fleet of vessels and taking further advantage of the strong earnings environment we anticipate extending to at least the end of 2024 given favourable supply-demand fundamentals," Edward Buttery, TMI CEO.