– UK, London – Taylor Maritime Investments Limited (LON: TMIP), the listed specialist dry bulk shipping company, today announced the appointment of Charles Maltby to its Board as a Non-Executive Director effective from 1 January 2024.
“We are delighted to welcome Charles to the TMI Board as we continue to align the strategic and governance activities across the combined Group, and expect to benefit from Charles’ deep understanding of shipping markets, operations and knowledge and experience with Grindrod.” said Board Chairman, Henry Strutt.
The Board also announced the retirement of Helen Tveitan from the Board on 31 March 2024.
About Charles Goodson Maltby
Charles Maltby has served as a Director of Grindrod Shipping Holdings Limited since 6 December 2022, where he is due to retire from the Board and Grindrod’s Compensation and Nomination Committee on 31 December 2023. Mr. Maltby has over 20 years of experience in the shipping industry and is currently CEO of BW Epic Kosan, the world’s leading owner and operator of modern high-quality fully pressurized, semi-refrigerated, and ethylene-capable gas carriers. Before that, Mr. Maltby held leadership positions at Pacific Basin and the transportation divisions of BHP.
About the Company
Taylor Maritime Investments Limited is an internally managed investment company listed on the Premium Segment of the Official List, its shares trading on the Main Market of the London Stock Exchange since May 2021. The Company specializes in the acquisition and chartering of vessels in the Handysize and Supra/Ultramax bulk carrier segments of the global shipping sector. The Company invests in a diversified portfolio of primarily second-hand vessels. TMI’s fleet portfolio currently numbers 19 vessels in the geared dry bulk segment. The ships are employed utilizing a variety of employment/charter strategies.
On 20 December 2022, the Company announced it acquired a controlling majority interest in Grindrod Shipping Holdings Ltd (NASDAQ: GRIN, JSE: GSH), a Singapore-incorporated, dual-listed company on NASDAQ and the Johannesburg Stock Exchange. Grindrod has an owned fleet of 18 dry bulk vessels complementary to the Company’s fleet. They are Japanese-built, including 11 Handysize vessels and 7 Supra/Ultramax vessels. Grindrod has seven vessels in its chartered fleet with purchase options on three.
The combined TMI and Grindrod fleet numbers 40 vessels (including chartered vessels with purchase options).
The Company’s target dividend policy is 8 cents p.a. paid every quarter, with a targeted total NAV return of 10-12% per annum over the medium to long term.
The Company has the benefit of an experienced Executive Team led by Edward Buttery who previously worked closely together at Taylor Maritime. Taylor Maritime was established in 2014 as a privately owned ship-owning and management business with a seasoned team including the founders of dry bulk shipping company Pacific Basin Shipping (listed in Hong Kong 2343. HK) and gas shipping company BW Epic Kosan (formerly Epic Shipping) (listed in Oslo BWEK: NO). The commercial and technical management arms of Taylor Maritime were acquired by Grindrod in October 2023.
SOURCE: https://taylormaritimeinvestments.com/
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