Grindrod Shipping (Grinship) has undergone a sea change, and the business looks set to be awash with cash in the next six months.

In March the FM punted Grinship when it seemed reasonable to assume that there would be a marked lift in profit for the first half to end-June on the back of the firmer rate cards — or time charter equivalent (TCE) — evident in the first two months of this year...

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