Grindrod has finalised the sale of its bunker division, Unicorn Bunker Services, for an undisclosed amount.
Unicorn Bunker Services, which employs 110 people, was first established in 2006 and operates three modern bunker tankers in the ports of Durban and Cape Town under contract to BP, Engen and Chevron.
The company is now co-owned by Women in Oil and Energy South Africa (WOESA) and 100% black-owned and -managed shipbroking firm Linsen Nambi, with the transaction having been financed through the Industrial Development Corporation (IDC).
The conclusion of this deal, Grindrod said on Wednesday, has facilitated the participation of black women and black youth in the maritime sector and created the first 100% black ship owners in the country.
“Grindrod is proud to be part of this historic achievement.”
These bunker tankers have been designed and built to meet and exceed all the oil majors’ safety and operational requirements and are staffed by qualified and experienced seafarers who ensure that bunkers are safely and efficiently delivered to ships calling at the ports.
“We are excited about the acquisition and look forward to growing the business to greater heights together with staff and our partners. This acquisition provides another opportunity to expose our members to the maritime industry,” enthused WOESA CEO Khumo Ntlha.
“Transformation of the maritime sector has been a key focus of Linsen Nambi for many years; this deal is the first of its kind in South Africa but hopefully not the last,” Linsen Nambi director Thuso Mhlambo added.
Meanwhile, Unicorn Bunker Services CEO Russell Burns highlighted that the transaction supports government’s agenda of transformation.
“As a company, we are honoured to be part of the process of skills transferal and improving the transformation profile of the South African maritime industry.”