Grindrod History

Celebrating a century of shipping and freight logistics excellence

Nine years later Renaud, a leading Durban legal counsel, learned through the legal network of an old pilgrim ship, the ‘Halal’, which was lying in Aden pending sale by auction. Purchasing her for £9 355 under the name African Coasters (Pty) Ltd, he renamed the 430-ton ship ‘Cecile Mapleson’, his wife’s maiden name, and with Grindrod and Co. as ships agents began trading between Durban and Lourenço Marques (now Maputo).

On the death of Captain John Grindrod in 1930, his son Walter Bibby (WB) Grindrod, born in Durban in 1903, took over the management of Grindrod & Co. and as such became a very active protagonist of the coasting industry, an interest that was amplified in 1931 when he became an alternate director on the board of SS Frontier Company.

When Leon Renaud died in 1934 his son Cecil joined the board of SS Frontier Company, rekindling with WB the business partnership their fathers had enjoyed. Within three years they had consolidated the operations of the SS Frontier Company and African Coasters.

The Second World War interrupted their hard work as both men joined the armed forces, but immediately on their return they set about expanding their fleet, a program led by WB, who became managing director of African Coasters in 1946.

Murray Grindrod – early days
Steeped in shipping from dinner–table discussions and a family life that revolved around the small vessels trading out of Durban, Murray Grindrod joined Grindrod Gersigny – the managing agents for African Coasters in 1957. In his job he learnt the trade from the wharf side, becoming involved in the hiring of personnel, stevedoring, and general ships husbandry. He also took every opportunity to study the operation of the ships at sea, which gave him a personal grasp of the trade and an affinity with the people abroad. In 1960 he was appointed alternate director to his father.

Plotting the course for Grindrod
With the limited volumes of coastal cargoes being spread among three players and African Coasters needing an urgent injection of capital to replace their ageing fleet, it was Murray Grindrod who persuaded his father and Cecil Renaud to seek finance elsewhere. Indeed, it was the team that he led that secured funding from Union Corporation, thus paving the way for the modernization of the fleet, the subsequent merger with Smith’s Coasters in 1966 to form Unicorn Shipping Lines and the acquisition of Thesen’s Steamship Company from Safmarine in the same year. The Unicorn brand has since been synonymous with local shipping.

Under Murray Grindrod’s leadership as managing director, Unicorn pioneered a fully cellular container service in 1971.

Grindrod lists on the JSE
A personal sense of achievement for Murray Grindrod followed the acquisition of the majority shareholding from Union Corporation’s successor, Gencor, in 1986 and then the listing of the group in the same year.

With the full support of chairman Murray Grindrod, Ivan Clark and Alan Olivier travelled to Athens to negotiate successfully for the purchase of Safmarine’s 40 percent shareholding in Unicorn and the subsequent acquisition of IVS in 1998. Grindrod Group now had full control and became the leading and only fully South African ship owner in South Africa.

When Mike Groves took the helm of the Grindrod Unicorn Group, he invited Clark to become the Group's Chief operating officer, a move that culminated in his appointment as managing director in July 1999.

It was a difficult time for the Group, which was trying to emerge from the effects of a global shipping recession. However the company, now Grindrod Limited, acquired several key companies in rapid succession that expanded the Group’s range of activities and enabled it to control a large part of the South African Ship's Agency sector.

A new name for a new millenium
In 2001 the Grindrod Unicorn Group Limited changed its name to Grindrod Limited, incorporating a new brand and logo. The group further diversified its operations into freight services, trading and financial services.

The new decade also saw the retirement of Ivan Clark as chief executive officer at the end of 2006 and the appointment of Alan Olivier as his successor. In 2007, after 21 years as chairman and 50 years with the group Murray Grindrod retired and Ivan Clark was appointed as his successor.

Grindrod today lists numerous proud achievements, including being named the top shipping company in the world in 2006 and named as one of the top listed companies in South Africa for 4 consecutive years. In 2009 the Group received the accolade as the number 1 JSE listed company over 10 years.

Investing in the future
Any successful business has a relationship with the society in which it operates and a duty to that society’s betterment. So in addition to ensuring financial sustainability, Grindrod is committed to minimizing the impact of its operations on the environment and to investing in the community with a particular focus on educational initiatives. We do so not only because future opportunities depend on a concerted effort today, but also quite simply because of the enormous difference our humblest efforts make in the lives they touch.

Together with skilled and committed employees, a strong balance sheet, limited debt, good liquidity, a low cost fleet, diversified freight and logistics operations, the Grindrod group is poised for further growth in all its divisions and looks forward to “Charting New Horizons” with all our employees, partners and stakeholders.