Grindrod buys into Port of Maputo

Grindrod buys into Port of Maputo    Durban-based shipping and logistics company Grindrod Ltd. has bought a 12.24 percent share in the Port of Maputo in Mozambique, for an undisclosed amount.
   Grindrod acquired its stake from a European consortium, which includes Mersey Docks. The Mozambican government holds a 49 percent share of the port, with the balance held by the private consortium of which Grindrod is now a part.
   Maputo is located about 500 kilometers from Johannesburg in South Africa. The main commodities that can be shipped through Maputo are coal, iron ore, fruit, ferro alloys, steel products, containers, cars and other related commodities.
   “The expansion into port operations and terminals is an exciting move for the Grindrod group,” said Ivan Clark, Grindrod’s chief executive officer. “The Grindrod group has been positioning itself for concessioning of ports in Southern Africa for some time. The Maputo Port provides an immediate opportunity for Grindrod to participate in the development of a port with a natural hinterland and which is an integral part of Southern Africa’s freight system.
   “Our South African customers are continually asking us to provide logistic solutions through Maputo. When one considers that our shipping lines, Unicorn, Island View Shipping, and Ocean Africa Container Lines, all call on Maputo, it makes strategic sense for us to participate in the Port of Maputo,” said Clark.
   In a related development, Grindrod said it would invest up to $25 million upgrading its existing Matola Coal Terminal facility in Maputo, eventually increasing the capacity of the terminal to 6 million tons per annum from its current 1.7 million tons capacity.