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Grindrod buys shipping line from Safmarine

4 Sep 2012

Grindrod has bought the remaining shares in Ocean Africa Container Lines (OACL) shipping line from Safmarine for an undisclosed amount.

Grindrod buys shipping line from Safmarine

The transaction was approved by the Competition Tribunal of South Africa and the South African Reserve Bank. OACL is now a wholly owned subsidiary of Grindrod Limited.

OACL is a shipping line that operates in southern Africa‚ between Durban and Luanda‚ calling at all major ports in South Africa‚ Namibia and Angola.

OACL provides a feeder service to all international mainline carriers‚ ships domestic and regional cargo‚ providing customers with a complete freight logistics service including warehousing‚ distribution and inland transportation. The business currently deploys four container vessels‚ each with a capacity of between 800 and 1 200 twenty foot equivalent units.

Last year South Africa exported R6,5-billion worth of goods to Angola and imported R11,5-billion.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za