Grindrod Shipping Holdings Ltd. (JSE: GSH) announced its financial results for the second half and full year ended December 31, 2023. Despite challenging market conditions, the company reported mixed financial performance along with significant operational developments.
Metric | Second Half 2023 | Full Year 2023 |
---|---|---|
Revenues | $201.2 million | $387.1 million |
Gross Profit | $15.9 million | $39.4 million |
Adjusted Net Loss | $9.2 million | $7.9 million |
Adjusted EBITDA | $24.8 million | $64.7 million |
Handysize TCE/day | $10,182 | $10,351 |
Supramax/Ultramax TCE/day | $13,849 | $13,908 |
Grindrod Shipping made several strategic moves during the second half of 2023, including:
In early 2024, Grindrod Shipping continued its strategic initiatives:
Grindrod Shipping’s financial results for the second half and full year 2023 reflect resilience amid challenging market conditions. With strategic moves to strengthen the balance sheet and optimize its fleet, the company looks forward to navigating future opportunities in the maritime transportation sector.
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