The Port of Maputo handled a record 8.4 million tonnes of cargo during the first half of 2026, a 29% increase from the corresponding period last year, driven by strong demand for chrome exports and improved terminal efficiency.
The volume growth contributed to strong performance by Grindrod’s ports and terminals division during the six months ended June 30, according to the JSE-listed freight logistics group in its interim results released on Tuesday, August 25.
Grindrod’s dry bulk terminals handled 8.1 million tonnes, a 2% year-on-year increase, supported by record performances at the Navitrade facility in Richards Bay and its multipurpose terminal in Durban.
However, the group’s dry bulk terminal at Matola in Mozambique handled 4.2 million tonnes, which is 7% less than the corresponding period last year. Grindrod attributed the decline to weather-related disruption early in the year and elevated freight costs.
The group’s logistics division delivered mixed results while rail performance was constrained by reduced locomotive deployment.
Grindrod expects locomotive redeployment to accelerate during the second half of the year as it prepares to begin open-access rail operations in early 2027.
Several infrastructure projects also remain under development. These include the expansion of the Matola terminal, the dredging of the Port of Maputo and the development of a container handling facility at Richards Bay.
Grindrod said the projects remain on schedule and are expected to support further terminal growth and strengthen its integrated logistics operations.
The strong performance of the ports and terminals division lifted group earnings before interest, taxes, depreciation and amortisation by 52% year on year to R884 million. Headline earnings amounted to R593 million for the six-month period.
“The first half underscored the strength of our strategy, the resilience of our asset base and the quality of the growth opportunities ahead,” said Grindrod Group CEO Kwazi Mabaso.
“Grindrod delivered resilient volumes, stronger earnings and robust cash generation, reflecting momentum that is tangible, measurable and focused on sustainable value creation.”
The group’s lost-time injury frequency rate improved to 0.16 compared with 0.27 in 2025 and its target of 0.40.
However, Grindrod recorded a fatality in June. The company said it has completed an investigation and introduced additional controls to strengthen safety across its operations.
