Singapore shipowner Grindrod Shipping Holdings has completed its acquisition of the remaining 31.14 equity stake in the IVS Bulk joint venture formed with US-based Bain Capital Credit.
Grindrod Shipping CEO Martyn Wade said the acquisition also means Grindrod takes over 100 per cent ownership of all the owned vessels in the company's fleet.
The 12 vessels in the IVS Bulk fleet are all Japanese-built and fitted with what Grindrod has described as "eco" features.