The Company’s strategic priority is to navigate shipping market cycles on behalf of its shareholders over the long-term, leveraging a dynamic and experienced management team with deep relationships in the industry and an agile business model underpinned by low leverage and financial flexibility. This should create invaluable optionality to grow and renew as and when appropriate in order to deliver long-term attractive shareholder returns, through both income and capital appreciation.

The Group owns and operates a fleet of geared dry bulk carriers and has built a platform which encompasses investment and commercial ship management, as well as technical ship management services, following the full internalisation of vessel management functions after acquiring Grindrod Shipping Holdings Pte Ltd (“Grindrod”) (formerly Grindrod Shipping Holdings Limited).

The Group is transitioning from a pure tonnage provider model, where vessels were primarily time chartered out at fixed daily rates, to a commercial shipping company with the capability to implement a diversified strategy as appropriate, including:

→ Operating its fleet under a mix of time charter, voyage charter, and Contracts of Affreightment (“CoAs”) to optimise fleet earnings and cargo coverage

→ Managing chartered-in vessels and commercially leveraging its ship management platform for third party customers

→ Pursuing a fleet renewal strategy, evaluating acquisitions and disposals opportunistically based on assessment of market cycles