Africa-Press – South-Africa. Following the severe floods in KwaZulu-Natal, the shipping and freight group Grindrod has suspended operations at five of its sites in Durban.
The company says the operations will remain suspended for several weeks.
Its container depots, terminals and warehouse facilities in and around central Durban have been impacted.
It is currently recovering containers following the floods, and restoring damaged equipment and infrastructure.
“In addition, engagement with key customers is underway around contingencies, including those required for the upcoming citrus season.”
“Whilst the floods have been devastating, our equipment and facilities that have been damaged are all insured, including cover for business interruption,” Grindrod added. It says it is taking necessary precautions ahead of heavy rains forecast over the next few days.
In a trading update for the first quarter of 2022, the company said its port volumes were up 11% on the prior period, while its terminals’ dry bulk volumes rose 48% .
Its banking business’ earnings were 9% up on the prior period despite maintaining a large liquidity surplus.
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