Africa's biggest shipping firm Grindrod expects to report a decline of up to 60% in first half headline earnings a share as the global economic slowdown hit shipping volumes and rates.
Grindrod, which derives more than 80% of its profit from shipping resources such as iron ore, cement, coal and fuel, said that the results were also hit by the substantially stronger rand against the dollar.
(Sourced from www.reuters.com)
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