Grindrod has seen its shipping division recover to above cash breakeven levels following a strengthening of dry bulk rates.
The South African owner said in a trading statement that it expects its first-half loss to be between ZAR 77m ($5.79m) and ZAR 97m, down by up to 93% compared to the same stage of 2016.
Grindrod reported a net loss of ZAR 1.9bn
