Grindrod takes full control of OACL

Grindrod Holdings (South Africa) has acquired Safmarine’s 51% share of Ocean Africa Container Lines for an undisclosed amount. The transaction has been 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 operates between Durban and Luanda, calling all major ports in South Africa, Namibia and Angola. It provides a feeder service to all international mainline carriers, shipping domestic and regional cargo. It currently deploys four container vessels, each with a capacity of 800-1200 TEU.
Mahmood Simjee, previously the chief operating officer, has been appointed chief executive officer.
Captain Dave Rennie, chief executive officer of Grindrod Freight Services, said that the acquisition was in line with Grindrod’s strategy of providing an integrated service offering for the movement of containerized, dry-bulk, liquid-bulk and wheeled cargoes.