Grindrod Shipping Holdings is beefing up its board with some big hitters as part of its takeover by Taylor Maritime Investments (TMI).

Chairman Michael Hankinson and Murray Grindrod have retired as directors, and three more places at the top table have been recreated, meaning five new recruits.

The Singapore-based owner is being bought by London-listed TMI, whose chief executive, Ed Buttery, has been appointed to the board, along with Charles Maltby, CEO of LPG carrier owner BW Epic Kosan.