South African ship owner Grindrod has sold its bunker division, Unicorn Bunker Services (Pty) Ltd., for an undisclosed sum to new co-owners WOESA (Women in Oil and Energy South Africa) and Linsen Nambi.
Financed through the Industrial Development Corporation (IDC), the deal creates the nations first 100 percent black ship owners and facilitates the participation of black women and black youth in the maritime sector.
Unicorn Bunker Services was established in 2006 a division of Grindrod Freight Services and operates three bunker tankers in the ports of Durban and Cape Town under contract to BP, Engen and Chevron. The company employs 110 people.
Russell Burns, CEO of Unicorn Bunker Services, said, “This transaction supports the government’s agenda of transformation and as a company we are honored to be part of the process of skills transferal and improving the transformation profile of the South African maritime industry.”