Grindrod Shipping (GRIN) 20-F 27 Mar 24 2023 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	Grindrod Shipping Holdings Ltd.
Entity Central Index Key	0001725293
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Trading Symbol	GRIN
Entity Common Stock, Shares Outstanding	19,685,590
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Ordinary shares, no par value
Security Exchange Name	NASDAQ
ICFR Auditor Attestation Flag	false
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	1046
Auditor Location	Singapore
Document Registration Statement	false
Entity Incorporation, State or Country Code	U0
Entity File Number	001-38440
Entity Address, Address Line One	1 Temasek Avenue
Entity Address, Address Line Two	#10-02 Millenia Tower
Entity Address, City or Town	Singapore
Entity Address, Country	SG
Entity Address, Postal Zip Code	039192
Document Accounting Standard	International Financial Reporting Standards
Document Financial Statement Error Correction [Flag]	false
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	1 Temasek Avenue
Entity Address, Address Line Two	#10-02 Millenia Tower
Entity Address, City or Town	Singapore
Entity Address, Country	SG
Entity Address, Postal Zip Code	039192
Contact Personnel Name	Edward Buttery
City Area Code	65
Local Phone Number	6323 0048

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and bank balances	$ 59,331	$ 52,228
Trade receivables	6,702	11,290
Contract assets	2,906	1,313
Other receivables and prepayments	18,070	25,066
Due from related parties	27	0
Derivative financial instruments	176	51
Inventories	10,755	15,278
Tax recoverable	109	0
Total current assets	98,076	105,226
Non-current assets
Restricted cash	4,560	4,342
Ships, property, plant and equipment	303,192	407,552
Right-of-use assets	35,244	26,039
Interest in joint ventures	8	8
Derivative financial instruments	423	0
Intangible assets	4,907	186
Goodwill	7,924	0
Other receivables and prepayments	1,918	860
Other investments	3,613	3,714
Deferred tax assets	1,019	1,304
Total non-current assets	362,808	444,005
Total assets	460,884	549,231
Current liabilities
Trade and other payables	30,695	29,599
Contract liabilities	2,987	4,369
Due to related parties	388	43
Lease liabilities	32,432	22,058
Bank loans and other borrowings	18,578	33,330
Retirement benefit obligations	125	125
Derivative financial instruments	712	138
Provisions	277	592
Income tax payable	430	423
Total current liabilities	86,624	90,677
Non-current liabilities
Trade and other payables	1,153	140
Lease liabilities	1,373	4,055
Bank loans and other borrowings	123,639	165,638
Deferred tax liabilities	761	0
Retirement benefit obligation	1,194	1,272
Derivative financial instruments	20	0
Total non-current liabilities	128,140	171,105
Capital and reserves
Share capital	290,193	320,683
Other equity and reserves	(24,508)	(24,686)
Accumulated losses	(19,565)	(8,548)
Total equity	246,120	287,449
Total equity and liabilities	$ 460,884	$ 549,231

CONSOLIDATED STATEMENTS OF PRO

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Revenue	$ 387,096	$ 460,460	$ 455,839
Cost of sales
Voyage expenses	(74,614)	(91,104)	(96,964)
Vessel operating costs	(43,001)	(46,901)	(43,958)
Charter hire costs	(26,952)	(58,926)	(75,381)
Depreciation of ships, drydocking and plant and equipment– owned assets	(24,824)	(30,498)	(25,866)
Depreciation of ships and ship equipment – right-of-use assets	(30,343)	(35,676)	(34,898)
Other expenses	(555)	(696)	(1,875)
Cost of ship sale	(147,440)	(29,897)	0
Gross profit	39,367	166,762	176,897
Other operating (expense) income	(1,352)	341	3,849
Administrative expense	(32,653)	(48,069)	(36,089)
Share of losses of joint ventures	0	(5)	(31)
Interest income	2,798	2,228	201
Interest expense	(17,099)	(17,133)	(12,298)
(Loss) profit before taxation	(8,939)	104,124	132,529
Income tax (expense) benefit	(683)	(757)	118
(Loss) profit for the year from continuing operations	(9,622)	103,367	132,647
Loss for the year from discontinued operation	0	0	(3,165)
(Loss) profit for the year	(9,622)	103,367	129,482
(Loss) profit for the year attributable to:
Owners of the Company	(9,622)	103,367	118,925
Non-controlling interests	0	0	10,557
(Loss) profit for the year	$ (9,622)	$ 103,367	$ 129,482
(Loss) earnings per share attributable to the owners of the Company
Basic	$ (0.49)	$ 5.45	$ 6.21
Diluted	(0.49)	5.45	5.94
From continuing operations - Basic	(0.49)	5.45	6.38
From continuing operations - Diluted	$ (0.49)	$ 5.45	$ 6.1
Vessel And Other [Member]
Profit or loss [abstract]
Revenue	$ 228,991	$ 430,479	$ 455,839
Ships Sales [Member]
Profit or loss [abstract]
Revenue	155,105	29,981	0
Continue Operations [Member]
(Loss) profit for the year attributable to:
Owners of the Company	(9,622)	103,367	122,090
Discontinued operations [member]
(Loss) profit for the year attributable to:
Owners of the Company	$ 0	$ 0	$ (3,165)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement [Line Items]
(Loss) profit for the year	$ (9,622)	$ 103,367	$ 129,482
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit obligation	(6)	111	60
Remeasurement of other investment	(220)	(207)	835
Other comprehensive income that will not be reclassified to profit or loss, net of tax	(226)	(96)	895
Items that may be reclassified subsequently to profit or loss
Exchange differences arising from translation of foreign operations	(605)	(917)	(1,034)
Net fair value gain (loss) on hedging instruments designated as cash flow hedges	783	(6,794)	4,999
Other comprehensive (loss) income for the year, net of income tax	178	(7,711)	3,965
Other comprehensive (loss) income for the year, net of income tax	(48)	(7,807)	4,860
Total comprehensive (loss) income for the year	(9,670)	95,560	134,342
Total comprehensive (loss) income for the year attributable to:
Owners of the Company	(9,670)	95,560	123,785
Non-controlling interests	0	0	10,557
Total comprehensive (loss) income for the year	(9,670)	95,560	134,342
Continue Operations [Member]
Total comprehensive (loss) income for the year attributable to:
Owners of the Company	(9,670)	95,560	127,068
Discontinued operations [member]
Total comprehensive (loss) income for the year attributable to:
Owners of the Company	$ 0	$ 0	$ (3,283)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Share capital [member]	Treasury shares [member]	Share compensation reserve [member]	Hedging reserve [member]	Translation reserve [member]	Merger reserve [member]	Accumulated (losses) profit [member]	Attributable to owners of the company [member]	Non-controlling interest [member]
Share capital, Balance at Dec. 31, 2020	$ 254,019	$ 320,683	$ (387)	$ 3,954	$ 458	$ (8,749)	$ (18,354)	$ (85,368)	$ 212,237	$ 41,782
Statement [Line Items]
Profit/Loss for the year	129,482	0	0	0	0	0	0	118,925	118,925	10,557
Other comprehensive income/loss for the year, net of income tax	4,860	0	0	0	4,999	(1,034)	0	895	4,860	0
Total comprehensive income/loss for the year	134,342	0	0	0	4,999	(1,034)	0	119,820	123,785	10,557
Dividends (Note 39)	(13,546)	0	0	0	0	0	0	(13,546)	(13,546)	0
Equity-settled share-based payments (Note 28)	3,330	0	0	3,330	0	0	0	0	3,330	0
Treasury shares reissued to employees under the Forfeitable Share Plan (Note 28)	0	0	393	(2,507)	0	0	0	2,114	0	0
Acquisition of treasury shares	(11,876)	0	(11,876)	0	0	0	0	0	(11,876)
Acquisition of non-controlling interest	(46,634)	0	0	0	0	0	5,705	0	5,705	(52,339)
Transaction with owners, recognised directly in equity	68,726	0	(11,483)	823	0	0	5,705	(11,432)	(16,387)	(52,339)
Share capital, Balance at Dec. 31, 2021	319,635	320,683	(11,870)	4,777	5,457	(9,783)	(12,649)	23,020	$ 319,635	$ 0
Statement [Line Items]
Profit/Loss for the year	103,367	0	0	0	0	0	0	103,367
Other comprehensive income/loss for the year, net of income tax	(7,807)	0	0	0	(6,794)	(917)	0	(96)
Total comprehensive income/loss for the year	95,560	0	0	0	(6,794)	(917)	0	103,271
Dividends (Note 39)	(135,877)	0	0	0	0	0	0	(135,877)
Equity-settled share-based payments (Note 28)	8,134	0	0	8,134	0	0	0	0
Treasury shares reissued to employees under the Forfeitable Share Plan (Note 28)	(3)	0	11,870	(12,911)	0	0	0	1,038
Transaction with owners, recognised directly in equity	127,746	0	11,870	(4,777)	0	0	0	(134,839)
Share capital, Balance at Dec. 31, 2022	287,449	320,683	$ 0	$ 0	(1,337)	(10,700)	(12,649)	(8,548)
Statement [Line Items]
Profit/Loss for the year	(9,622)	0			0	0	0	(9,622)
Other comprehensive income/loss for the year, net of income tax	(48)	0			783	(605)	0	(226)
Total comprehensive income/loss for the year	(9,670)	0			783	(605)	0	(9,848)
Shares issued (Note 37)	1,950	1,950			0	0	0	0
Distribution to shareholders (Note 27)	(32,440)	(32,440)			0	0	0	0
Dividends (Note 39)	(1,169)	0			0	0	0	(1,169)
Transaction with owners, recognised directly in equity	31,659	(30,490)			0	0	0	(1,169)
Share capital, Balance at Dec. 31, 2023	$ 246,120	$ 290,193			$ (554)	$ (11,305)	$ (12,649)	$ (19,565)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
(Loss) profit for the year	$ (9,622)	$ 103,367	$ 129,482
Adjustments for:
Share of losses of joint ventures	0	5	31
(Gain) loss on ship sales	(10,665)	(84)	1,115
Loss on disposal of business	0	0	26
Gain on disposal of plant and equipment, furniture and fittings and motor vehicles	(12)	(36)	(14)
Loss (gain) on adjustment of right-of-use assets	46	0	(104)
Depreciation and amortisation	57,654	67,275	61,953
Impairment loss (reversal of impairment) recognised on ships	2,000	(1,707)	(3,557)
Impairment loss recognised (reversed) on right-of-use assets	0	985	(1,046)
Impairment loss recognised on goodwill and intangibles	0	0	965
Impairment loss recognised (reversed) on financial assets	53	(45)	681
Impairment loss recognised on net disposal group	0	0	2,551
Impairment loss (reversed) recognised on plant and equipment	(310)	0	1
Provision for onerous contracts (reversed) recognised	(315)	(427)	939
Recognition of share-based payments expenses	0	8,134	3,330
Net foreign exchange gain	(535)	(171)	(744)
Interest expense	17,099	17,133	12,947
Interest income	(2,798)	(2,228)	(236)
Income tax expense (benefit)	683	757	(2,831)
Components of defined benefit costs recognised in profit or loss	146	159	177
Operating cash flows before movements in working capital and ships	53,424	193,117	205,666
Inventories	4,520	(1,371)	(5,089)
Trade receivables, other receivables and prepayments	11,316	(5,556)	(5,361)
Contract assets	(1,593)	2,373	(2,786)
Trade and other payables	(8,230)	(5,515)	6,729
Contract liabilities	(1,382)	(4,072)	3,347
Due to related parties	458	49	233
Operating cash flows before movement in ships	58,513	179,025	202,739
Capital expenditure on ships	(38,076)	(9,306)	(33,455)
Proceeds from ship sales	152,011	29,509	47,819
Net cash generated from operations	172,448	199,228	217,103
Interest paid	(16,938)	(14,553)	(11,623)
Interest received	2,363	1,786	236
Income tax paid	(2,750)	(432)	(864)
Net cash flows generated from operating activities	155,123	186,029	204,852
Investing activities
Repayment of loans and amount due from joint venture	0	39	788
Purchase of plant and equipment	(652)	(113)	(49)
Purchase of intangible assets	(212)	(126)	(6)
Proceeds from disposal of plant and equipment	16	298	21
Proceeds from disposal of businesses	0	0	68
Dividends and distributions received from a joint venture	0	0	184
Cash transferred in from disposal group	0	0	60
Net cash received from acquisition of subsidiaries (Note 37)	2,048	0	0
Net cash generated from investing activities	1,200	98	1,066
Financing activities (Note A)
Return of share capital	(32,440)	0	0
Long-term interest-bearing debt raised	0	0	48,031
Payment of principal portion of long-term interest-bearing debt	(56,912)	(49,850)	(82,110)
Principal repayments on lease liabilities	(58,276)	(56,930)	(36,040)
Acquisition of non-controlling interest	0	0	(46,634)
Acquisition of treasury shares	0	0	(11,876)
Dividends paid	(1,169)	(135,877)	(13,546)
Restricted cash	1,347	(485)	3,099
Net cash flows used in financing activities	(147,450)	(243,142)	(139,076)
Net increase (decrease) in cash and cash equivalents	8,873	(57,015)	66,842
Cash and cash equivalents at the beginning of the period (Note 6)	46,561	104,243	37,942
Effect of exchange rate changes on the balance of cash held in foreign currencies	(205)	(667)	(541)
Cash and cash equivalents at the end of the period (Note 6)	$ 55,229	$ 46,561	$ 104,243

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS 1 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Bank loans and other borrowings [Member]
Supplemental Cash Flow Information [Abstract]
Opening Balance	$ 198,968	$ 245,666
Financing cash flows	(56,912)	(49,850)
Other changes	161	3,152
Closing Balance	142,217	198,968
Lease liabilities [member]
Supplemental Cash Flow Information [Abstract]
Opening Balance	26,113	33,272
Financing cash flows	(58,276)	(56,930)
Other changes	65,967	49,771
Closing Balance	$ 33,804	$ 26,113

GENERAL INFORMATION

GENERAL INFORMATION	12 Months Ended
	Dec. 31, 2023
Disclosure Of Basis Of Presentation Abstract [Abstract]
GENERAL INFORMATION	1 GENERAL INFORMATION Grindrod Shipping Holdings Ltd. (the “Company”) is incorporated in Singapore with its principal place of business and registered office at 1 Temasek Avenue, #10-02 Millenia Tower, Singapore 039192. The principal activities of the Group are ship chartering, operating and sales of vessels. Information of the entities within the Group is contained in Note 14. Following an initial tender offer and subsequent offer that was concluded on December 19, 2022, Taylor Maritime Investments Limited (“TMI”) became the majority shareholder of the Company. This transaction is described in Note 5. On October 3, 2023 we announced the acquisition of the entire issued share capital of Taylor Maritime Management Limited and Tamar Ship Management Limited from, in the case of Taylor Maritime Management Limited, Taylor Maritime Group Limited and, in the case of Tamar Ship Management Limited, Taylor Maritime Group Limited and Temeraire Holding (MI) Limited (Note 37). This acquisition i s resulting from On February 24, 2022, the United States imposed additional sanctions on Russia in response to its invasion of Ukraine. Many of these sanctions are targeted at Russian banks and energy companies and Russian sovereign debt. The range of sanctions includes prohibitions on dealings in the debt or equity of certain Russian companies, as well as blocking sanctions imposed on many Russian individuals and entities. Similar sanctions have been imposed in coordination with the United States by the United Kingdom, European Union, and other countries. The invasion of Ukraine by Russia and subsequent sanctions has impacted trade flows by reducing the supply of cargo from that region and increased ton miles as end users find alternative sources of cargo. If the conflict and sanctions continue to impact the global economy for a prolonged period, the rates in the drybulk spot market and our vessel values may be negatively impacted which could negatively impact our operations and cash flows. The related financial impact cannot be reasonably estimated at this time. Geopolitical tensions have increased since commencement of the Israel-Hamas war on 7 October 2023. There is widespread uncertainty about the degree of any increased escalation of the war, interventions by other groups or nations, and resulting instability in the Middle East. Following attacks on merchant vessels in the region of the Bab al-Mandab Strait and the Gulf of Aden at the southern end of the Red Sea, there is disruption in the maritime trade through Suez-Canal. As a result of these attacks, many shipping companies have routed their vessels away from the Red Sea, which has affected trading patterns, increasing freight rates and expenses. Further escalation or expansion of hostilities could continue to affect our business and results of operations. The related impact cannot be reasonably estimated at this time. The consolidated financial statements of Grindrod Shipping Holdings Ltd. and its subsidiaries (the “Group” ) as of 31 December 2023 and 2022 and for the three years ended 31 December 2023

MATERIAL ACCOUNTING POLICIES

MATERIAL ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Disclosure Of Material Accounting Policies [Abstract]
MATERIAL ACCOUNTING POLICIES	2 MATERIAL ACCOUNTING POLICIES Outlined below are the material accounting policies that are applicable to the consolidated financial statements. However, material policies applicable to the specific accounting items have been included in the applicable detailed notes to the consolidated financial statements for ease of reference. 2.1 Basis of accounting The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS Accounting Standards”) issued by the International Accounting Standards Board (“IASB”). The accounting policies adopted are set out below. 2.2 Application of new and revised IFRS Accounting Standards From 1 January 2023, the Group has applied a number of amendments to IFRS Accounting Standards that are mandatorily effective for an accounting period that begins on or after 1 January 2023. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements except as below. Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies The Group have 2.3 New and revised IFRS Accounting Standards in issue but not yet effective The Group has not applied the following new and revised IFRSs that are relevant to the Group that were issued but are not yet effective: Amendments to IAS 1 Classification of liabilities as Current or Non-current Amendments to IAS 1 Non-current Liabilities with Covenants The directors do not expect that the adoption of the Standards listed above will have a material impact on the financial statements of the Group in future periods. 2.4 Going concern The directors have, at the time of approving the consolidated financial statements, a reasonable expectation that the Group have adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the consolidated financial statements. Refer to more details in Note 4 to the consolidated financial statements. 2.5 Basis of Consolidation The consolidated financial statements incorporate the financial statements of the parent company parent company Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Specifically, the results of subsidiaries acquired or disposed of during the year are included in profit or loss from the date the Group gains control until the date when the Group ceases to control the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group’s accounting policies. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Group are eliminated on consolidation. Non-controlling interests in subsidiaries are identified separately from the Group’s equity therein. Those interests of non-controlling shareholders that are present ownership interests entitling their holders to a proportionate share of net assets upon liquidation may initially be measured at fair value or at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. Profit or loss and each component of other comprehensive income (loss) are attributed to the owners of the Group and to the non-controlling interests. Total comprehensive income (loss) of the subsidiaries is attributed to the owners of the Group and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance. Changes in the Group’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amount of the Group’s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to the owners of the Group. 2.6 Financial instruments Financial assets and financial liabilities are recognised on the Group’s statement of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value (except for trade receivables that do not have a significant financing component which are measured at transaction price), net of transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Financial assets Classification of financial assets The Group classifies its financial assets in the following measurement categories: · those to be measured subsequently at fair value (either through OCI or through profit or loss), and · those to be measured at amortised cost. All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value through other comprehensive income (“FVTOCI”) or fair value through profit or loss (“FVTPL”), depending on the classification of the financial assets. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. Debt instruments mainly comprise cash and bank balances, trade receivables, contract assets, other receivables and amount due from related parties that meet the following conditions are subsequently measured at amortised cost: · the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and · the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Debt instruments relating to other investments that meet the following conditions are subsequently measured at fair value through other comprehensive income (loss) (FVTOCI): · the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets; and · the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. By default, all other financial assets are subsequently measured at fair value through profit or loss (FVTPL). Impairment of financial assets The Group recognises a loss allowance for expected credit losses (“ECL”) on trade and other receivables, amounts due from joint ventures and contract assets. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument. The ECL incorporates forward-looking information and is a probability-weighted estimate of the difference between all contractual cash flows that are due to the group in accordance with the contract and all the cash flows that the group expects to receive, discounted at the original effective interest rate. Details about the group’s credit risk management and impairment policies are disclosed in Note 4 (a), 7, 8 and 9. Credit-impaired financial assets A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events: · significant financial difficulty of the issuer or the borrower; · a breach of contract, such as a default or past due event; · the lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider; · it is becoming probable that the borrower will enter bankruptcy or other financial reorganisation; or · the disappearance of an active market for that financial asset because of financial difficulties. Derecognition of financial assets The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received. Classification as debt or equity Debt and equity instruments issued by the Group are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue cost. Repurchase of the company’s own equity instruments is recognised and deducted directly in equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the company’s own equity instruments. Financial liabilities at amortised cost Financial liabilities at amortised cost include trade and other payables, amounts due to related parties, bank loans and other borrowings. These are initially measured at fair value and subsequently measured at amortised cost, using the effective interest method, except for short-term balances when the effect of discounting is immaterial. Derecognition of financial liabilities The Group derecognises financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss. Derivative financial instruments The Group enters into freight forward agreements and bunker swaps to manage its exposure to freight rate and bunker prices respectively. Further details of derivative financial instruments are disclosed in Note 10. Derivatives are initially recognised at fair value at the date the derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. Group designates the derivatives as hedges of highly probable forecast transactions or hedges of foreign currency risk of firm commitments (cash flow hedges). A derivative with a positive fair value is recognised as a financial asset whereas a derivative with a negative fair value is recognised as a financial liability. Derivatives are not offset in the financial statements unless the Group has both legal right and intention to offset. A derivative is presented as a non-current asset or a non-current liability if the remaining maturity of the instruments is more than 12 months and it is not expected to be realised or settled within 12 months. Other derivatives are presented as current assets or current liabilities. Financial liabilities and equity instruments Hedge accounting The Group designates hedges of freight rate risk and bunker prices as cash flow hedges. At the inception of the hedge relationship, the entity documents the relationship between the hedging instrument and hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whether the hedging instrument is effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk, which is when the hedging relationships meet all of the following hedge effectiveness requirements: · there is an economic relationship between the hedged item and the hedging instrument; · the effect of credit risk does not dominate the value changes that result from that economic relationship; and · the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of hedged item. Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in OCI and accumulated under the heading of Hedging Reserve. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss as part of other operating expense or other operating income. Amounts previously recognised in OCI and accumulated in equity are reclassified to profit or loss in the periods when the hedged item is recognised in profit or loss in the same line of the statement of profit or loss and OCI as the recognised hedged item. However, when the forecast transaction that is hedged, results in the recognition of a non-financial asset or a non-financial liability, the gains and losses previously accumulated in equity are transferred from equity and included in the initial measurement of the cost of the asset or liability. This transfer does not affect OCI. Furthermore, if the Group expects that some or all of the loss accumulated in OCI will not be recovered in the future, that amount is immediately reclassified to profit or loss. The Group discontinues hedge accounting only when the hedging relationship (or a part thereof) ceases to meet the qualifying criteria (after rebalancing, if applicable). This includes instances when the hedging instrument expires or is sold, terminated or exercised. The discontinuation is accounted for prospectively. Any gain or loss recognised in OCI and accumulated in equity at that time remains in equity and is recognised when the forecast transaction is ultimately recognised in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognised immediately in profit or loss. 2.7 Offsetting Arrangements Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when the Group has a legally enforceable right to set off the recognised amounts, and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. A right to set-off must be available today rather than being contingent on a future event and must be exercisable by any of the counterparties, both in the normal course of business and in the event of default, insolvency or bankruptcy. 2.8 Voyage expenses Voyage expenses that relate directly to a contract include charter hire expenses, fuel expenses and port expenses. Contract costs are deferred and amortised over the course of the voyage on a percentage completion basis that is consistent with the revenue recognition. This percentage of completion is derived from time elapsed between the tender of readiness to load a cargo or delivery of a vessel to a charterer, and the completion of discharging a cargo or redelivery of a vessel from a charterer. Contract costs are recognised as an asset if they represent incremental costs of obtaining a contract or fulfilment costs that (i) relate directly a contract or to an anticipated contract, (ii) generate or enhance resources to be used in meeting obligations under the contract and (iii) are expected to be recovered. 2.9 Vessel operating costs Vessel operating costs primarily consists of crewing, vessel repairs and maintenance and vessel insurance costs. These costs are expensed as incurred on an accrual basis. 2.10 Foreign Currency Transactions and Translation The individual financial statements of each group entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency which is predominantly United States dollars or South African Rands). The consolidated financial statements of the Group are presented in United States Dollars and are rounded to the nearest thousands. In preparing the financial statements of the group entities, transactions in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the end of the reporting period. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group’s foreign operations (including comparatives) are expressed in United States Dollars using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuated significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognised in OCI and accumulated in a separate component of equity under the header of translation reserve.

CRITICAL ACCOUNTING JUDGEMENTS

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY	12 Months Ended
	Dec. 31, 2023
Disclosure of changes in accounting estimates [abstract]
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY	3 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the Group’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There have been no significant changes in the basis upon which judgements and accounting estimates have been determined. (i) Critical judgements in applying the Group’s accounting policies The following are the critical judgements, apart from those involving estimations (see below), that management has made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Ships classified as inventories The Group regularly engages in trading of ships. When a ship ceases to be rented and a decision is made for the ship to be sold, the ship would be classified as inventories (Note 11). The proceeds from the sale of such assets shall be recognised as revenue in accordance with IFRS 15 Revenue from Contracts with Customers Estimation of lease term of charters with extension options When estimating the lease term of the respective lease arrangement, management considers all facts and circumstances that create an economic incentive to exercise an extension option, including any expected changes in facts and circumstances from the commencement date until the exercise date of the option. This is assessed on an ongoing basis and the extension options are only included in the lease term if the lease is reasonably certain to be exercised. $27,577,000 (2022: $52,621,000) have not been included in the lease liability because it is not reasonably certain that the leases will be extended. If a significant event or a significant change in circumstances occurs which affects this assessment and that is within the control of the lessee, the above assessment will be reviewed further. The Group exercised options to extend lease term of charters on two supramax vessels. (ii) Key sources of estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below. Vessels and depreciation In the shipping industry, the use of the 25 to 30 year ship life has become the prevailing standard for the type of ship owned by the Group. However, management depreciates the ships on a straight-line basis after deduction for residual values over the ship’s estimated useful life of 15 years, from the date the ship was originally delivered from the shipyard as the Group maintains a young fleet compared to the market average and generally aims to replace ships that are 15 years or older. As a result, ships are depreciated over 15 years to the expected residual market value of a ship of a similar age and specification. Management reassesses the depreciation period of ships that surpass this limit with special consideration of the ships and the purpose for which the ship was retained in the fleet. Residual values of the ships are reassessed by management at the end of each reporting period based on the current shipping markets, the movement of the markets over the previous five years and the age, specification and condition of the respective ships. Considerations for useful life of the ships also include maintenance and repair cost, technical or commercial obsolescence and legal or similar limits to the use of ships. Impairment and reversals of impairment of Vessels (including owned and right-of-use) Management also reviews the ships (owned and right-of-use) for impairment whenever there is an indication that the carrying amount of the ships may not be recoverable. Management measures the recoverability of an asset by comparing its carrying amount against its recoverable amount. Recoverable amount is the higher of the fair value less cost to sell and value in use. Management identifies an appropriate valuation technique to estimate the fair value that is in accordance with IFRS 13 Fair Value Measurement Value in use is the future cash flows that the ships are expected to generate from charter hire of the ships and the expected running costs thereof over their remaining useful lives, with a cash inflow in the final year equal to the residual value of the ships. Management determined the value-in-use based on past performance of the ships and their expectations of the market development. The future cash flows are determined based on the combination of the following assumptions: 1) Forecast earnings are based on internal estimates having considered: fixed future earnings from existing contracts of affreightment and charter contracts, allowing for dry dock and commercial off hire days, internal forecasts, as well as third party information and historical earnings averages. 2) Pre-tax discount rate of 8.69 (2022: 8.56%) rate is used to discount future cash flows from deployment of the ships to their net present values. 3) Vessel operating expenses and drydock costs are based on management’s best estimates. Accordingly, based on the carrying amounts of the right-of-use ships as at end of each reporting period, the Group has not recognised an impairment loss for the year ended 31 December 2023 (2022: US$ 985,000 1,046,000 As at 31 December 2023 and 2022, a possible change to the following estimate used in management’s assessment would cause Drybulk Carriers · 0.0% to 24.23% 1 · 0.0% to 76.56% 1 1 (2022: three vessels) Based on the key assumptions and taking into account the sensitivity analysis above, management has determined that the estimated recoverable amount of the ships are appropriate. The recoverable amounts of ships classified as inventories were determined based on estimated selling price less cost to sell, which were determined based on the contracted selling price. The carrying amounts of the ships are disclosed in Notes 12 and 13. Impairment of goodwill Determining whether goodwill is impaired requires an estimation of the value in use of the cash-generating units to which goodwill has been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash-generating unit (based on past performance and management’s expectations of the market developments) and a suitable discount rate in order to calculate present value. The carrying amount of goodwill at the end of the reporting period was $7,924,000 (2022: $Nil) with no impairment loss recognised. Details of the value in use Fair value of acquired businesses On 3 October 2023, the Group acquired Tamar Ship Management Limited and Taylor Maritime Management Limited. In accordance with IFRS 3 Business Combinations 1) Fair value of earn-out consideration Earn-out consideration in the purchase consideration is recorded at fair value at the date of acquisition and at each reporting period and 2) Fair value of acquired intangible assets Management have separately identified contractual customer relationships as an intangible asset acquired from the acquisition of businesses. The determination of its fair value is by Further details of acquisition of businesses are provided in Note 37.

FINANCIAL INSTRUMENTS, FINANCIA

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT	12 Months Ended
	Dec. 31, 2023
Financial instruments financial risks and capital management [Abstract]
FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT	4 FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (i) Categories of financial instruments 2023 2022 US$’000 US$’000 Financial assets Financial assets at amortised cost 84,177 88,127 Derivative instruments designated in hedge accounting relationship 599 51 84,776 88,178 Financial liabilities Financial liabilities at amortised cost 200,197 254,863 Earn-out consideration 8,061 - Derivative instruments designated in hedge accounting relationships 732 138 208,990 255,001 (ii) Financial risk management policies and objectives The management of the Group monitors and manages the financial risks relating to the operations of the Group to ensure appropriate measures are implemented in a timely and effective manner. These risks include market risk (foreign currency risk, interest rate risk), credit risk and liquidity risk. The Group largely does not hold or issue derivative financial instruments for speculative purpose, however, in the current year there are forward freight agreements that were purchased for 2025 in view of the improving sentiment in the drybulk rates for next year. These forward freight agreements could not be designated as a hedge against contracted cargo. Other than liquidity risk, there has been no change to the Group’s exposure to these financial risks. There have been no significant changes to the manner in which it manages and measures the risk. Market risk exposures are measured using sensitivity analysis indicated below. (a) Credit risk management Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. As at 31 December 2023 and 31 December 2022, the Group’s maximum exposure to credit risk without taking into account any collateral held or other credit enhancements, which will cause a financial loss to the Group due to failure to discharge an obligation by the counterparties and financial guarantees provided by the Group arises from: · the carrying amount of the respective recognised financial assets as stated in the consolidated statement of financial position; and · the maximum amount the Group would have to pay if the financial guarantee is called upon, irrespective of the likelihood of the guarantee being exercised. The Group maintains an allowance for ECL which is recorded as an offset to financial assets, details of which are disclosed in the respective notes. The Group assesses collectability by reviewing on a collective basis where similar characteristics exist and on an individual basis when we identify specific counterparties with known disputes or collectability issues. In determining the amount of the allowance for ECL, the Group considers historical collectability based on past due status. The Group has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, as a means of mitigating the risk of financial loss from defaults. The aggregate value of transactions concluded is spread amongst approved counterparties. Trade receivables consist of a large number of customers, spread across diverse geographical areas. Ongoing credit evaluation is performed on the financial condition of accounts receivable. At the end of the reporting period, the Group does not have significant credit risk exposure to any single counterparty or any Group of counterparties having similar characteristics. The Group defines counterparties as having similar characteristics if they are related entities. The concentration of credit risk is limited due to the fact that the customer base is large and unrelated. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are third parties and banks with high internal and external credit ratings. (b) Interest rate risk management The Group is exposed to interest rate risk through the impact of bank loans and other borrowings at variable interest rates. The Group monitors its exposure to fluctuating interest rates and generally enters into contracts that are linked to market rates relative to the currency of the asset or liability. The Group’s bank loans and other borrowings were originally advanced at a floating rate based on LIBOR which has been subject to international and regulatory proposals for reform. LIBOR continued to be quoted until 30 June 2023 and thereafter, the Secured Overnight Financing Rate, or SOFR, has been used. Certain of the Group’s bank loans matured before LIBOR was discontinued and did not require amendment. All remaining bank loans and other borrowings with the lenders have successfully transitioned to SOFR. The Group does not currently have any interest rate hedging instruments. Interest rate sensitivity The sensitivity analyses below have been determined based on the exposure to interest rates for both derivatives and non-derivative instruments at the end of the reporting period and the stipulated change taking place at the beginning of the financial year and held constant throughout the reporting period in the case of instruments that have floating rates. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates. If interest rates had been 50 basis points higher or lower and all other variables were held constant, the Group’s profit (loss) for the year ended 31 December 2023 would in de (c) Foreign currency exchange risk management The Group’s main operational activities are carried out in United States dollars and South African rands, which is the functional currency of the respective financial statements of each Group entity. The risk arising from movements in foreign exchange rates is limited as the Group has minimal transactions in foreign currencies which mainly relates to administrative expenses in Singapore dollars, amounts due to related companies in South African rands as well as bank balances in South African rands. Management reviews and monitors currency risk exposure and determines whether any hedging is considered necessary. The objective of the foreign exchange exposure management policy is to ensure that all foreign exchange exposures are identified as early as possible and that the identified exposures are actively managed to reduce risk. All exposures are to reflect the underlying foreign currency commitments arising from trade and/or foreign currency finance. Under no circumstances are speculative positions, not supported by normal trade flows, permitted. At the end of the reporting period, the significant carrying amounts of monetary liabilities and monetary assets denominated in currencies other than the respective Group entities’ functional currencies are as follows: Liabilities Assets 2023 2022 2023 2022 US$’000 US$’000 US$’000 US$’000 United States dollars (554 ) (554 ) 2,760 584 South African rands (173 ) (1,629 ) - - Foreign currency sensitivity The following table details the sensitivity to a 10% increase and decrease in the relevant foreign currencies against the functional currency of each Group entity. 10% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the period end for a 10% change in foreign currency rates. If the relevant foreign currency strengthens/weakens by 10% against the functional currency of the entity, profit or loss will increase/(decrease) or, vice versa by: Impact on profit or loss 2023 2022 US$’000 US$’000 United States dollars 221 3 South African rands (17 ) (163 ) (d) Liquidity risk management Liquidity risk refers to the risk that the Group is unable to pay its creditors due to insufficient funds. The Group maintains and monitors a level of cash deemed adequate by management at all times to finance its obligations as and when they fall due. The shipping environment has been challenging and volatile over the last several years due to an oversupply of vessels allied to a lower growth rate of the world economy. While there was a rebound in charter rates in 2021 and 2022, charter rates reduced in 2023. Further deterioration in the market could result in unfavourable market conditions and impact to the Group’s operations and cash flows and the Group’s ability to comply with covenants and other conditions in the loan agreements. The Group manages liquidity risk by monitoring forecast and actual cash flows and ensuring that adequate borrowing facilities are maintained. The management may, from time to time, at their discretion raise or borrow monies for the purposes of the Group as they deem fit. There are measures in place to preserve cash, maintain adequate financing to meet Group’s obligations and protect existing loan covenants imposed by the banks. The covenant levels are monitored continuously to identify any potential covenant issues so that solutions such as waivers or modifications to the loan covenants to obtain more favourable terms can be implemented in advance. Based on the 12 months cash flow forecast prepared by management from the date of the authorisation of the Non-derivative financial liabilities The following tables detail the remaining contractual maturity for non-derivative financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. The table includes both interest and principal cash flows. The adjustment column represents the possible future cash flows attributable to the instrument included in the maturity analysis which is not included in the carrying amount of the financial liability on the consolidated statements of financial position. Weighted average effective interest rate On demand or within 1 year Within 2 to 5 years After 5 years Adjustment Total % p.a US$’000 US$’000 US$’000 US$’000 US$’000 Group 2023 Non-interest bearing - 29,928 2,308 - - 32,236 Lease liabilities 7.89 33,459 1,437 - (1,091 ) 33,805 Variable interest rate instruments 9.44 28,570 115,041 27,913 (29,307 ) 142,217 91,957 118,786 27,913 (30,398 ) 208,258 2022 Non-interest bearing - 29,782 - - - 29,782 Lease liabilities 6.47 22,903 4,177 - (967 ) 26,113 Variable interest rate instruments 8.16 45,254 161,350 33,909 (41,545 ) 198,968 97,939 165,527 33,909 (42,512 ) 254,863 Derivative financial instruments The following table details the liquidity analysis for derivative financial instruments. The table has been drawn up based on the undiscounted gross inflows and (outflows) on those derivatives that require gross settlement. When the amount payable or receivable is not fixed, the amount disclosed has been determined by reference to the projected interest rates as illustrated by the yield curves existing at the end of reporting period. On demand or within 1 year Within 2 to 5 years Adjustment Total US$’000 US$’000 US$’000 US$’000 Group 2023 Gross settled: Forward freight agreements Gross inflow 20 422 - 442 Gross outflow (586 ) - - (586 ) (566 ) 422 - (144 ) Bunker swaps Gross inflow 156 1 - 157 Gross outflow (125 ) (20 ) - (145 ) 31 (19 ) - 12 (535 ) 403 - (132 ) 2022 Gross settled: Bunker swaps Gross inflow 51 - - 51 Gross outflow (138 ) - - (138 ) (87 ) - - (87 ) (e) Shipping market price risk management The Group is exposed to the fluctuations in market conditions in the shipping industry which in turn affects the Group’s profitability. Management continually assesses Shipping market price sensitivity The sensitivity analyses below have been determined based on the exposure to shipping market price risk at the end of the reporting period. In respect of derivative financial instruments, if the shipping market prices had been 10% higher/lower while other variables were held constant: · Profit (loss) for the year, and ended 31 December 2023 would decrease/increase by US$142,000 (2022: decrease /increase by US$Nil and 2021: decrease/increase by US$Nil); and · hedging reserve for the year ended 31 December 2023 would decrease/increase by US$Nil (2022: decrease/increase by US$Nil and 2021: decrease/increase by US$3,671,000). (f) Commodity price risk management The Group uses bunker swaps to manage exposure to commodity price risk where the positions are not naturally economically hedged through the combination of holding inventory, forward sales contracts and forward purchase contracts. Management continually assess commodity price through their experience and detailed research. The carrying amount of the derivative financial instruments is disclosed in Note 10. Commodity price sensitivity The sensitivity analyses below have been determined based on the exposure to commodity price risk at the end of the reporting period. In respect of derivative financial instruments, if the commodity prices had been 10% higher/lower while other variables were held constant: · profit (loss) for the year ended 31 December 2023 would decrease/increase by US$Nil (2022: decrease/increase by US$Nil and 2021: decrease/increase by US$Nil) ; and · hedging reserve for the year ended 31 December 2023 would decrease/increase by US$846,000 (2022: decrease/increase by US$460,000 and 2021: decrease/increase by US$778,000). (g) Fair value measurement of financial assets and financial liabilities The carrying amounts of cash and cash equivalents, trade and other current receivables and payables, other liabilities and earn-out consideration approximate their respective fair values due to the relatively short-term maturity of these financial instruments. The fair values of other classes of financial assets and liabilities are disclosed in the respective notes to financial statements. Financial instruments measured at fair value on a recurring basis 2023 2022 US$’000 US$’000 Financial Assets Forward freight agreements 442 - Bunker swaps 157 51 Financial Liabilities Forward freight agreements (587 ) - Earn-out consideration (8,061 ) - Bunker swaps (145 ) (138 ) Forward freight agreements and bunker swap agreements and have been classified as Level 2 financial instruments, which indicates that the fair value of the instruments were determined based on discounted cash flow with reference to observable inputs for equivalent instruments, discounted at a rate that reflects the credit risk of various counterparties. Further details are disclosed in Note 10. Earn-out consideration arising from business combination (Note 3 and 37) is classified as a Level 3 financial instrument. The valuation is based on scenario based method to capture the present value of the expected future economics benefits that will flow out of the group. The earn-out consideration will be adjusted downwards if the number of ships under management is less than 25. The occurrence of change of buyer control will results in a 20% premium on the earn-out consideration. A change in these inputs might result in a significantly higher or lower fair value measurement of the earn-out consideration. No gain or loss for the year relating to this earn-out consideration has been recognised in profit or loss. Fair Value of Financial Instruments Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the group takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 Share-based Payment, leasing transactions that are within the scope of IFRS 16 Leases, and measurements that have some similarities to fair value but are not fair value, such as net realisable value in IAS 2 Inventories or value in use in IAS 36 Impairment of Assets. The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) Level 3 - inputs for the asset or liability that are not based on observable market data (unobservable inputs) Level 2 and 3 fair values were determined by applying either a combination of, or one of the following valuation techniques: · market related interest rate yield curves to discount expected future cash flows; and/or · projected unit method; and/or · market value, and/or · the net asset value of the underlying investments; and/or · a price earnings multiple or a discounted projected income/present value approach The fair value measurement for income approach valuation is based on significant inputs that are not observable in the market. Key inputs used in the valuation include discount rates and future profit assumptions based on historical performance but adjusted for expected growth. Management reassess the earnings or yield multiples at least annually based on their assessment of the macro- and micro-economic environment. Level 1 Level 2 Level 3 Total US$’000 US$’000 US$’000 US$’000 2023 Financial Assets Derivative financial instruments - 599 - 599 Financial Liabilities Derivative financial instruments - (732 ) - (732 ) Earn-out consideration - - (8,061 ) (8,061 ) 2022 Financial Assets Derivative financial instruments - 51 - 51 Financial Liabilities Derivative financial instruments - (138 ) - (138 ) There were no transfers between Level 1 and 2 of the fair value hierarchy during the current or prior year. (iii) Capital management policies and objectives The Group manages its capital to ensure that the Group will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt to equity balance. The capital structure of the Group consists of debt and equity, which comprises of share capital and reserves. The Group also reviews the capital structure on a semi-annual basis. As a part of this review, the management considers the cost of capital and the risks associated with each class of capital. The management also ensures that the Group maintains gearing ratios within a set range to comply with the loan covenant imposed by a bank. The Group’s overall strategy remains unchanged from prior year. During the year end December 31, by reducing the fully paid-up share capital

HOLDING COMPANY, RELATED COMPAN

HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
Disclosure of transactions between related parties [abstract]
HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS	5 HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS On October 11, 2022, the Company entered into a Transaction Implementation Agreement (“TIA”), with TMI and Good Falkirk (MI) Limited (“Good Falkirk”), a wholly-owned subsidiary of TMI (the “Offeror”), providing for a voluntary conditional cash offer (the “TMI Offer”) to be made by the Offeror for all of the issued ordinary shares in the capital of the Company. All shares that were validly tendered were accepted for payment, following which TMI became the Company’s ultimate holding company as it owned approximately 73.78% of the shares of the Company through its wholly owned subsidiary, Good Falkirk. A subsequent offer period began immediately thereafter and expired on December 19, 2022. On expiration of the subsequent offer period, TMI held approximately 83.23% of the outstanding shares of the Company through its wholly owned subsidiary, Good Falkirk. (i) Group companies and other related parties Related companies in these financial statements refer to members of the TMI group that are not members of the Group (“Group companies”) and other related parties comprise of companies that are controlled by key management person n The balances are unsecured, interest-free and repayable on demand unless otherwise stated: 2023 2022 US$’000 US$’000 Due from group companies 15 - Due from other 12 - Due from related parties 27 - Due to group companies 168 - Due to joint ventures 39 43 Due to other 181 - Due to related parties 388 43 During the year ended December 31, 2023 Group companies Other Group companies Other Group companies Other 2023 2023 2022 2022 2021 2021 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Charter hire expenses (6,486 ) (628 ) - - - - Freight expenses (839 ) (2 ) - - - - Management fees expenses - (31 ) - - - - Management fees 1,960 - - - - - Lease income (Note 31) 77 268 - - - - Ship cost of sale - (90 ) - - - - Acquisition of ship and asset under construction (a) (31,875 ) - - - - - Acquisition of subsidiaries from a related party of TMI is included in Note 37. These related party transactions occurred under terms that are no more or less favourable than those arranged with third parties. (a) During the year, the Group acquired a ship and a contract for a ship under construction from subsidiaries of TMI. The acquisition was at an agreed price consistent with independent broker valuations obtained in connection with the transactions and were unanimously approved by the disinterested members of the Board of Directors. (ii) Compensation of directors and key management personnel The remuneration of the directors and other members of key management is set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures 2023 2022 2021 US$’000 US$’000 US$’000 Short-term benefits 4,340 7,954 9,200 Share-based payments - 5,108 1,479 4,340 13,062 10,679 The remuneration of directors and key management is determined by the remuneration committee of Grindrod Shipping Holdings Limited having regard to the performance of individuals and market trends.

CASH AND BANK BALANCES INCLUDIN

CASH AND BANK BALANCES INCLUDING RESTRICTED CASH.	12 Months Ended
	Dec. 31, 2023
Disclosure of cash and cash equivalents [Abstract]
CASH AND BANK BALANCES INCLUDING RESTRICTED CASH	6 CASH AND BANK BALANCES INCLUDING RESTRICTED CASH 2023 2022 US$’000 US$’000 Restricted cash, current portion 4,102 5,667 Cash on hand 376 494 Cash at bank 54,853 46,067 Cash and bank balances 59,331 52,228 Less: Restricted cash, current portion (4,102 ) (5,667 ) Cash and cash equivalents in the statements of cash flows 55,229 46,561 Restricted cash Classified as: Current 4,102 5,667 Non-current 4,560 4,342 8,662 10,009 The current portion of the restricted cash represents amounts placed The non-current portion of restricted cash represents debt reserves security deposit required due to the conditions of certain banking facilities and these deposits are not available to finance the Group’s day to day operations. Accounting policy Cash and cash equivalents in the statement of cash flows comprise cash on hand and demand deposits that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.

TRADE RECEIVABLES

TRADE RECEIVABLES	12 Months Ended
	Dec. 31, 2023
Disclosure Of Trade And Other Receivables [Abstract]
TRADE RECEIVABLES	7 TRADE RECEIVABLES 2023 2022 US$’000 US$’000 Trade receivables 7,357 11,950 Less: Allowances for doubtful debts (655 ) (660 ) 6,702 11,290 The credit period is 1 to 30 days (2022: 1 to 30 days). No interest is charged on the outstanding invoice. Loss allowance for trade receivables has been measured at an amount equal to lifetime ECL. The ECL on trade receivables are estimated using a provision matrix by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast direction of conditions at the reporting date. There has been no significant change in the estimation techniques or significant assumptions made during the current reporting period in assessing the allowance for the amounts due from customers. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. Any recoveries made are recognised in profit or loss. A trade receivable is written off when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery. The following table details the risk profile of trade receivables based Trade receivables past due – collectively assessed 2023 Not past due <30 31-60 61-90 91-120 >120 Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Estimated total gross carrying amount at default, representing net carrying amount of default 5,288 465 225 367 127 230 6,702 Trade receivables past due – collectively assessed 2022 Not past due <30 31-60 61-90 91-120 >120 Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Estimated total gross carrying amount at default, representing net carrying amount of default 8,493 1,237 68 509 241 742 11,290 As at 31 December 2023 and 2022 2023 2022 US$’000 US$’000 Gross carrying amount 655 660 Less: Loss allowances (655 ) (660 ) Carrying amount net of allowance - - Movement in the loss allowance: 2023 2022 Individually assessed US$’000 US$’000 Balance at 1 January (660 ) (684 ) Net remeasurement of loss allowance (55 ) 16 Amount written off 5 7 Effect of foreign exchange differences 55 1 Balance at 31 December (655 ) (660 )

CONTRACT ASSETS

CONTRACT ASSETS	12 Months Ended
	Dec. 31, 2023
Contract assets [abstract]
CONTRACT ASSETS	8 CONTRACT ASSETS This relates to unbilled revenue, recognised over the period in which the freight services are performed representing the entity’s right to consideration for which payments shall be received in the subsequent year Management estimates the loss allowance on amounts due from customers at an amount equal to lifetime ECL, taking into account the historical default experience and the future prospects of the industry. No provision for loss allowance was made during 2023 and 2022 as the contract assets is aged less than 30 days .

OTHER RECEIVABLES AND PREPAYMEN

OTHER RECEIVABLES AND PREPAYMENTS	12 Months Ended
	Dec. 31, 2023
Disclosure of Other Receivables and Prepayments [Abstract]
OTHER RECEIVABLES AND PREPAYMENTS	9 OTHER RECEIVABLES AND PREPAYMENTS 2023 2022 US$’000 US$’000 Current Assets: Deposit 2,034 269 Prepayments 4,412 4,026 Voyages in progress 8,907 17,085 Other receivables 2,717 3,686 18,070 25,066 Non-current Assets: Prepayments 1,918 860 19,988 25,926 For purpose of impairment assessment, other receivables and loan receivables are considered to have low credit risk as they are not due for payment at the end of the reporting period and there has been no significant increase in the risk of default on the receivables since initial recognition. Accordingly, for the purpose of impairment assessment for these receivables, the loss allowance is measured at an amount equal to 12-month ECL. In determining the ECL, management has taken into account the historical default experience and the financial position of the counterparties, adjusted for factors that are specific to the debtors and general economic conditions of the industry in which the debtors operate. No provision for loss allowance was made during 2023 and 2022.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2023
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	10 DERIVATIVE FINANCIAL INSTRUMENTS Forward freight agreements and bunker swaps - analysed between: 2023 2022 US$’000 US$’000 Assets Current assets 176 51 Non-current assets 423 - Liabilities Current liabilities (712 ) (138 ) Non-current liabilities (20 ) - The Group has entered into a number of bunker swaps, as follows: 2023 Current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 January 2024 to June 2024 0.5% FOB Singapore 525.75 1,500 789 55 January 2024 to March 2024 0.5% FOB Rotterdam 522.50 1,350 705 6 January 2024 to September 2024 0.5% FOB Rotterdam 494.00 4,500 2,223 95 3,717 156 Non-current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 January 2025 to February 2025 0.5% FOB Rotterdam 470.50 400 188 1 Current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 March 2024 to April 2024 0.5% FOB Rotterdam 538.75 400 216 (8 ) June 2024 to July 2024 0.5% FOB Rotterdam 530.00 400 212 (9 ) March 2024 0.5% FOB Rotterdam 580.50 280 163 (16 ) April 2024 0.5% FOB Rotterdam 576.25 280 161 (16 ) April 2024 to December 2024 0.5% FOB Rotterdam 522.50 4,050 2,116 (75 ) October 2024 to December 2024 0.5% FOB Rotterdam 494.00 1,500 741 (1 ) 3,609 (125 ) Non-current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 March 2025 to December 2025 0.5% FOB Rotterdam 470.50 2,000 941 (20 ) 2022 Current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional value Fair value gain US$ MT US$’000 US$’000 January 2023 0.5% FOB Rotterdam 510.25 350 179 2 January 2023 to December 2023 0.5% FOB Rotterdam 483.50 1,920 928 31 April 2023 0.5% FOB Rotterdam 488.50 400 195 5 May 2023 0.5% FOB Singapore 529.25 250 132 2 April 2023 0.5% FOB Rotterdam 488.50 400 195 5 May 2023 0.5% FOB Singapore 529.25 250 132 2 March 2023 to May 2023 0.5% FOB Singapore 537.50 750 403 4 2,164 51 Current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional value Fair value gain US$ MT US$’000 US$’000 January 2023 0.5% FOB Rotterdam 651.00 180 117 (25 ) January 2023 0.5% FOB Rotterdam 599.50 450 270 (38 ) January 2023 to February 2023 0.5% FOB Rotterdam 573.75 750 430 (47 ) February 2023 to July 2023 0.5% FOB Rotterdam 510.25 2,100 1,072 (20 ) August 2023 to December 2023 0.5% FOB Rotterdam 503.25 1,000 503 (8 ) June 2023 0.5% FOB Singapore 537.50 250 134 - 2,526 (138 ) The Group has entered into a number of forward freight agreements in the normal course of business in order to hedge against open positions in the fleet from contracts of affreightment and exposure to earnings on the spot market. As at 31 December 2023, there are 10 (2022: Nil) outstanding forward freight agreements, maturing as follows: 2023 Current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Duration Notional value Fair value gain US$ US$’000 US$’000 January 2024 BSI-58 ave 10TC 14,750 30 443 6 January 2024 BSI-58 ave 10TC 15,000 30 450 14 893 20 Non-current assets Derivative instruments held for trading Settlement periods Strike price Duration Notional value Fair value gain US$ US$’000 US$’000 January 2025 to December 2025 BSI-58 ave 10TC 11,250 180 2,025 212 January 2025 to December 2025 BSI-58 ave 10TC 11,250 60 675 70 January 2025 to December 2025 BSI-58 ave 10TC 11,250 120 1,350 141 4,050 423 Current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Duration Notional value Fair value gain US$ US$’000 US$’000 January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,350 120 1,482 (191 ) 4,434 (587 )

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2023
Disclosure Of Inventories [Abstract]
INVENTORIES	11 INVENTORIES 2023 2022 US$’000 US$’000 Bunkers and other consumables at cost 10,755 15,278 - - Ships reclassified from ships, property plant and equipment as held for sale asset (Note 12) (a) 141,345 28,853 Sale of ships recognised as inventories (a) (141,345 ) (28,853 ) 10,755 15,278 (a) Ships reclassified from ships, property, plant and equipment as inventories is reconciled as follows: 2023 2022 US$’000 US$’000 Cost 260,971 41,297 Accumulated depreciation (83,663 ) (12,444 ) Impairment (35,963 ) - Carrying amount 141,345 28,853 For the year ended 31 December 2023, the Group entered into several memoranda of agreements with 8 distinct third parties for the sale of 9 ships at purchase consideration in aggregate of US$158,105,000. At the reporting date, all the ships have been delivered to the new owners. On 14 April 2022, the Group entered into memoranda of agreement with a third party for the sale of one ship at purchase consideration of US$29,981,000. The ship was delivered to the third party on 1 June 2022. Accounting policy Inventories are assets held for sale in the ordinary course of business or in the form of materials or supplies to be consumed in the rendering of services. Inventories which include bunkers on board ships and other consumable stores are valued at the lower of cost and net realisable value. Cost is determined on a first-in first-out basis. Spares on board ships are charged against income when issued to the ships. When inventories are sold, the carrying amount is recognised as part of cost of sales. Any write-down of inventories to net realisable value and all losses of inventories or reversals of previous write-downs or losses are recognised in cost of sales in the period the write-down, loss or reversal occurs.

SHIPS, PROPERTY, PLANT AND EQUI

SHIPS, PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Disclosure Of Trade And Other Receivables Explanatory [Abstract]
SHIPS, PROPERTY, PLANT AND EQUIPMENT	12 SHIPS, PROPERTY, PLANT AND EQUIPMENT Office equipment, furniture and fittings and motor vehicles Plant and equipment Ships Drydocking Construction in progress Freehold land and buildings Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Cost: Balance at 1 January 2022 4,189 4,331 589,095 18,117 774 238 616,744 Additions 113 - 2,076 7,230 - - 9,419 Disposals (826 ) (102 ) - (3,604 ) - (232 ) (4,764 ) Transfer from right-of-use assets (Note 13) - - 23,436 - - - 23,436 Reclassification to inventories (Note 11) - (2,599 ) (38,357 ) (341 ) - - (41,297 ) Effect of foreign currency exchange differences (194 ) - - - - (6 ) (200 ) Balance at 31 December 2022 3,282 1,630 576,250 21,402 774 - 603,338 Additions 652 - 16,068 5,133 16,875 - 38,728 Disposals (941 ) (6 ) - (4,267 ) - - (5,214 ) Acquisition of subsidiaries (Note 37) 186 - - - - - 186 Transfer from right-of-use assets (Note 13) - - 44,452 - - - 44,452 Reclassification to inventories (Note 11) - (158 ) (252,646 ) (8,167 ) - - (260,971 ) Effect of foreign currency exchange differences (217 ) - - - - - (217 ) Balance at 31 December 2023 2,962 1,466 384,124 14,101 17,649 - 420,302 Office equipment, furniture and fittings and motor vehicles Plant and equipment Ships Drydocking Construction in progress Freehold land and buildings Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Accumulated depreciation: Balance at 1 January 2022 4,092 4,077 99,230 8,447 - - 115,846 Depreciation 57 129 22,822 7,547 - - 30,555 Disposals (815 ) (83 ) - (3,605 ) - - (4,503 ) Transfer from right-of-use assets (Note 13) - - 4,809 - - - 4,809 Reclassification to inventories (Note 11) - (2,599 ) (9,504 ) (341 ) - - (12,444 ) Effect of foreign currency exchange differences (188 ) - - - - - (188 ) Balance at 31 December 2022 3,146 1,524 117,357 12,048 - - 134,075 Depreciation 154 107 18,515 6,202 - - 24,978 Disposals (938 ) (7 ) - (4,267 ) - - (5,212 ) Transfer from right-of-use assets (Note 13) - - 19,703 - - - 19,703 Reclassification to inventories (Note 11) - (158 ) (79,390 ) (4,115 ) - - (83,663 ) Effect of foreign currency exchange differences (209 ) - - - - - (209 ) Balance at 31 December 2023 2,153 1,466 76,185 9,868 - - 89,672 Office equipment, furniture and fittings and motor vehicles Plant and equipment Ships Drydocking Construction in progress Freehold land and buildings Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Accumulated impairment: Balance at 1 January 2022 1 - 63,108 - 310 - 63,419 Reversal of impairment recognised in profit and loss - - (1,707 ) - - - (1,707 ) Disposal (1 ) - - - - - (1 ) Balance at 31 December 2022 - - 61,401 - 310 - 61,711 Impairment loss (reversal of impairment) recognised in profit and loss - - 2,000 - (310 ) - 1,690 Reclassification to inventories - - (35,963 ) - - - (35,963 ) Balance at 31 December 2023 - - 27,438 - - - 27,438 Carrying amount: At 31 December 2023 809 - 280,501 4,233 17,649 - 303,192 At 31 December 2022 136 106 397,492 9,354 464 - 407,552 Certain ships are pledged to secure bank borrowings as disclosed in Note 24. Accounting policies Ships, property, plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated using straight-line method to allocate the cost of the assets (other than ships and properties under construction), net of their residual values, over their estimated useful lives as follows: Office equipment and furniture and fittings - 3 years Plant and equipment - 3 to 5 years Motor vehicles - 5 years Ships - 15 years Drydocking - 2.5 to 5 years The estimated useful lives, residual values and depreciation method are reviewed at each year end, with the effect of any changes in estimate accounted for on a prospective basis. Ships and properties in the course of construction for are carried at cost, less any recognised impairment loss. Depreciation of these assets, on the same bases as other assets, commences when the assets are available for use. Ships are measured at cost less accumulated depreciation and adjusted for any accumulated impairment losses and reversals of such losses. Cost comprises acquisition cost and costs directly related to the acquisition up until the time when the asset is ready for use, including interest expense incurred to finance the vessel during the period. From time to time, the Group’s ships are required to be drydocked for inspection and re-licensing at which time major repairs and maintenance that cannot be performed while the ships are in operation are generally performed. The Group capitalises the costs associated with drydocking as they occur and depreciates these costs on a straight-line basis over 2.5 to 5 years, which is generally the period until the next scheduled drydocking. A portion of the cost of acquiring a new ship is estimated and allocated to the components expected to be replaced or refurbished at the next scheduled drydocking. If the ship is disposed before the next drydocking, the carrying amount of drydocking expenses is included in determining the gain or loss on disposal of the ship and taken to the profit or loss. If the period to the next drydocking is shorter than expected, the undepreciated balance of the deferred drydocking cost is charged immediately as an expense before the next drydocking. Fully depreciated ships, plant and equipment still in use are retained in the financial statements. At each reporting date, the group reviews the carrying amounts of its ships, property, plant and equipment to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated based on the higher of fair value less costs of disposal and value in use, to determine the extent of the impairment loss (if any). An impairment loss is recognised in profit or loss when the recoverable amount of an asset is less than its carrying amount. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increase does not exceed the carrying amount that would have been determined had no impairment loss been recognised. A reversal of an impairment loss is recognised immediately in profit or loss. Assets that are held for rental are initially classified as ships, property, plant and equipment. When these assets cease to be rented and a decision is made to sell these assets, the carrying amount is transferred to inventories. Upon sale of these assets, the sales value is recorded in gross revenue and the related carrying value of these assets (held as inventories) is recorded in cost of sales. In relation to these assets that are held for rental, the cash payments to acquire such assets and subsequently cash proceeds from the sale of such assets are classified as cash flows from operating activities.

RIGHT-OF-USE ASSETS

RIGHT-OF-USE ASSETS	12 Months Ended
	Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [abstract]
RIGHT-OF-USE ASSETS	13 RIGHT-OF-USE ASSETS The Group leases several assets including office property, residential property, ships and ship equipment which are disclosed as right-of-use assets. Office and residential property Ships Ships equipment Total US$’000 US$’000 US$’000 US$’000 Cost: Balance at 1 January 2022 2,896 95,887 476 99,259 Additions 898 48,829 39 49,766 Transfer to ships, property, plant and equipment (Note 12) - (23,436 ) - (23,436 ) Derecognition of right-of-use asset (405 ) - - (405 ) Effect of foreign currency exchange differences (48 ) - - (48 ) Balance at 31 December 2022 3,341 121,280 515 125,136 Additions 3,272 62,600 83 65,955 Transfer to ships, property, plant and equipment (Note 12) (2) - (44,452 ) - (44,452 ) Acquisition of subsidiaries (Note 37) 80 - - 80 Adjustment (1) (2,710 ) - (144 ) (2,854 ) Effect of foreign currency exchange differences 11 - - 11 Balance at 31 December 2023 3,994 139,428 454 143,876 Accumulated depreciation: Balance at 1 January 2022 2,097 63,633 218 65,948 Depreciation 889 35,547 129 36,565 Transfer to ships, property, plant and equipment (Note 12) - (4,809 ) - (4,809 ) Derecognition of right-of-use asset (405 ) - - (405 ) Effect of foreign currency exchange differences (31 ) - - (31 ) Balance at 31 December 2022 2,550 94,371 347 97,268 Depreciation 1,695 30,229 114 32,038 Transfer to ships, property, plant and equipment (Note 12) (2) - (19,703 ) - (19,703 ) Derecognition of right-of-use asset - 393 - 393 Adjustment (1) (2,708 ) - (100 ) (2,808 ) Effect of foreign currency exchange differences 8 - - 8 Balance at 31 December 2023 1,545 105,290 361 107,196 Accumulated impairment: Balance at 1 January 2022 - 844 - 844 Impairment - 985 - 985 Balance at 31 December 2022 - 1,829 - 1,829 Derecognition of right-of-use asset - (393 ) - (393 ) Balance at 31 December 2023 - 1,436 - 1,436 Carrying amount: At 31 December 2023 2,449 32,702 93 35,244 At 31 December 2022 791 25,080 168 26,039 (1) Refers to lease modification during the period. (2) Purchase option on vessel was exercised during the year. Right-of-use assets are depreciated over the remaining period of the lease. The average lease term is between 1 and 4 years for property, between 2 and 5 years for ships, and between 2 and 5 years for ship equipment. The Group has options to purchase certain ships at set prices at certain dates within the contracts. The exercise price is not included in the right-of-use assets for these ships because it is not reasonably certain that the options will be exercised. For the year ended 31 December 2023, the Group recognised expense of US$27,359,000 (2022: US$60,869,000 and 2021: US$90,763,000) for short-term leases (i.e. a lease period of 12 months or less), US$104,000 (2022: US$82,000 and 2021: US$58,000) for leases of low value assets and US$285,000 (2022: US$8,197,000 and 2021: $11,532,000) for variable lease payments in connection with pool arrangements not included in the measurement of the lease liability. Corresponding lease liabilities are disclosed in Note 23. Accounting policy The right-of-use assets comprise the initial measurement of the corresponding lease liability (Note 23), lease payments made at or before the commencement day and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the right-of-use asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Group expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. The Group applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Ships, property, plant and equipment’ policy (Note 12).

SUBSIDIARIES

SUBSIDIARIES	12 Months Ended
	Dec. 31, 2023
Disclosure Of Significant Investments In Subsidiaries Explanatory [Abstract]
SUBSIDIARIES	14 SUBSIDIARIES Details of the Group’s subsidiaries at the end of the reporting period are as follows: Proportion of ownership Name of subsidiary Principal activity Country of incorporation 2023 % 2022 % Grindrod Shipping Pte. Ltd. Ship operating and management Singapore 100 % 100 % Grindrod Shipping (South Africa) Pty Ltd Ship operating and management South Africa 100 % 100 % Held by Grindrod Shipping Pte. Ltd IVS Bulk Owning Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk Carriers Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk 430 Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk 462 Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk 475 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 511 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 512 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 603 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 609 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 611 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 612 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 707 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 3708 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 3720 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 225 Pte. Ltd. (i) Ship Owning and Operating Singapore 100 % 100 % IVS Bulk Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IM Shipping Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % Island Bulk Carriers Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % Grindrod Shipping Services UK Limited To provide shipping and shipping related services United Kingdom 100 % 100 % Grindrod Shipping Services HK Limited To provide shipping and shipping related services Hong Kong 100 % 100 % IVS Bulk 5028 Pte Ltd (iv) Dormant Singapore 100 % - IVS Bulk 725 LLC (iv) Ship Owning and Operating Marshall Islands 100 % - IVS Bulk 784 Pte Ltd (iv) Dormant Singapore 100 % - IVS Bulk 784 LLC (iv) Dormant Marshall Islands 100 % - Unicorn Atlantic Pte. Ltd. Dormant Singapore 100 % 100 % Unicorn Baltic Pte. Ltd. Dormant Singapore 100 % 100 % Unicorn Ionia Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Tanker Operations (434) Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Ross Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Caspian Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Marmara Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Scotia Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Malacca Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Bulk Carriers Ltd Dormant British Virgin Islands 100 % 100 % Unicorn Tankers International Ltd Dormant British Virgin Islands 100 % 100 % Grindrod Maritime LLC (ii) Dormant Marshall Islands - 100 % Unicorn Sun Pte. Ltd. Dormant Singapore 100 % 100 % Proportion of Country of 2023 2022 Name of subsidiary Principal activity incorporation % % Unicorn Moon Pte. Ltd. Dormant Singapore 100 % 100 % Island View Ship Management Pte. Ltd. (iv) Ship management Singapore 100 % - Taylor Maritime Management Limited (v) Ship management Marshall Islands 100 % - Held by Grindrod Shipping (South Africa) Pty Ltd Comshipco Schiffahrts Agentur GmBH Ship agents and operators Germany 100 % 100 % Kuhle Shipping (Pty) Ltd (iii) Dormant South Africa - 100 % Held by IVS Bulk Pte. Ltd. IVS Bulk 541 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 543 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 545 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 554 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 709 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 5855 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 5858 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 712 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 7297 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 1345 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 3693 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 10824 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % Held by Island View Ship Management Pte. Ltd. Tamar Ship Management Limited (v) Ship Management Hong Kong 100 % - Tamar Ship Management Pte. Ltd (v) Ship Management Singapore 100 % - Castle Marine Services Ltd (v) Ship Management Hong Kong 100 % - Held by Taylor Maritime Management Limited Taylor Maritime Pte. Ltd (v) Ship Management Singapore 100 % - Taylor Maritime (HK) Limited (v) Ship Management Hong Kong 100 % - Taylor Maritime (UK) Limited (v) Ship Management United Kingdom 100 % - (i) This company was registered in 2022. (ii) These companies were deregistered in 2023. (iii) This company was sold on 31 March 2023. (iv) These companies were registered in 2023. (v) These companies were acquired on 3 October 2023.

INTEREST IN JOINT VENTURES

INTEREST IN JOINT VENTURES	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about Joint venture [Abstract]
INTEREST IN JOINT VENTURES	15 INTEREST IN JOINT VENTURES 2023 2022 US$’000 US$’000 Cost of investment in joint ventures 9 9 Share of post acquisition (loss) profit, net of dividends received (1 ) (1 ) Carrying amount 8 8 Details of the joint ventures are as follows: Name of the joint venture Principal activity Country of incorporation Proportion of ownership interest and voting power held by the Group Cost of investment in joint ventures 2023 2022 2023 2022 Tri-View Shipping Pte Ltd (a) Dormant Singapore 51 % 51 % 9 9 * Amount is less than US$1,000. (a) The Group has joint control over this entity by virtue of the contractual arrangement with its joint venture partner(s) requiring resolutions on the relevant activities to be passed based on unanimous approval. This entity was deregistered on 19 January 2024. The above joint venture is accounted for using the equity method in these consolidated financial statements. In 2023, the total share of joint venture companies' loss after taxation amounts to US$Nil (2022: US$5,000; 2021: US$31,000).

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2023
INTANGIBLE ASSETS [Abstract]
INTANGIBLE ASSETS	16 INTANGIBLE ASSETS Memberships Software and licenses Contractual customer relationships Carbon Credits Total US$’000 US$’000 US$’000 US$’000 US$’000 Cost: Opening balance as at 1 January 2022 29 2,000 - - 2,029 Additions - 126 - - 126 Derecognition of intangible asset - (1,173 ) - - (1,173 ) Effects of foreign currency exchange differences - (89 ) - - (89 ) Balance at 31 December 2022 29 864 - - 893 Additions - 84 - 128 212 Derecognition of intangible asset - (207 ) - - (207 ) Acquisition of subsidiaries (Note 37) - 212 4,948 - 5,160 Effects of foreign currency exchange differences - (71 ) - - (71 ) Balance at 31 December 2023 29 882 4,948 128 5,987 Accumulated amortisation: Opening balance as at 1 January 2022 - 1,802 - - 1,802 Amortisation - 155 - - 155 Derecognition of intangible asset - (1,173 ) - - (1,173 ) Effects of foreign currency exchange differences - (77 ) - - (77 ) Balance at 31 December 2022 - 707 - - 707 Amortisation - 170 469 - 639 Derecognition of intangible asset - (206 ) - - (206 ) Effects of foreign currency exchange differences - (60 ) - - (60 ) Balance at 31 December 2023 - 611 469 - 1,080 At 31 December 2023 29 271 4,479 128 4,907 At 31 December 2022 29 157 - - 186 Intangible assets include club memberships, software, licenses, contractual customer relationships and carbon credits. Club memberships are lifetime memberships and are not amortised. Software and licenses arose from the installation of major information systems (including packaged software) and are amortised over 3 years, the period over which the benefit is expected to accrue. Contractual customer relationships are amortised over 2 to 21 years, the period over which the benefit is expected to accrue. Carbon credits do not expire and are not amortised. Accounting policy Intangible assets acquired in a business combination are identified and recognised separately from goodwill. The cost of such intangible Intangible assets acquired separately are reported at cost less accumulated amortisation and accumulated impairment losses. Intangible assets with finite useful lives are amortised on a straight-line basis over their estimated useful lives. The estimated useful life and amortisation method are reviewed at the end of each annual reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives are not amortised. At the end of each reporting period, the Group reviews the carrying amounts of its intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where the asset does not generate cash flows that are independent from other assets Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risk specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is indication that the asset may be impaired.

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2023
GOODWILL [Abstract]
GOODWILL	17 GOODWILL 2023 2022 US$’000 US$’000 Cost: Balance at 1 January 3,292 3,305 Acquisition of subsidiaries (Note 37) 7,924 - Effects of foreign currency exchange differences (18 ) (13 ) Balance at 31 December 11,198 3,292 Accumulated impairment losses: Balance at 1 January 3,292 3,305 Effects of foreign currency exchange differences (18 ) (13 ) Balance at 31 December 3,274 3,292 Carrying amount: At 31 December 7,924 - Goodwill acquired in a business combination is allocated, at acquisition, to the CGUs that are expected to benefit from that business combination. Before recognition of impairment losses, the cost of goodwill had been allocated as follows: 2023 2022 US$’000 US$’000 Cost: Island Trading and Shipping 3,089 3,089 Parcel Service 185 203 Taylor Maritime Management Limited 4,470 - Tamar Ship Management Limited 3,454 - 11,198 3,292 The Group tests goodwill annually for impairment, or more frequently if there are indications that goodwill might be impaired. The recoverable amounts of the CGUs were based on their value in use determined using discounted cash flow (DCF) valuation models. The key assumptions for the value in use calculations are those regarding the discount rates, growth rates and expected changes to selling prices and direct costs during the period. Management estimates discount rates using pre-tax rates that reflect current market assessments of the time value of money and the risks specific to the CGUs. The growth rates are based on industry growth forecasts. Changes in selling prices and direct costs are based on past practices and expectations of future changes in the market. A sustained decrease in the profitability of the Parcel Service and Island Trading and Shipping CGUs in 2021 indicated that an impairment of goodwill was required. The remaining goodwill of $965,000 was fully impaired in 2021 and was recorded in profit or loss in the line item ‘Other operating income (expense)’ . The following CGUs have carrying amounts of goodwill that are considered significant in comparison with the Group’s total goodwill balance: Taylor Maritime Management Limited The Group uses cash flow projections based in financial budgets approved by the directors covering a three-year period with the fourth year to terminal annum The rate used to discount the forecast cash flows is 13.2%. Based on the value in use calculations, no impairment was required. As at 31 December 2023, any reasonably possible change to the key assumptions applied is not likely to cause the recoverable amount to be below the carrying amounts of the CGU. Tamar Ship Management Limited The Group uses cash flow projections based in financial budgets approved by the directors covering a three-year period with an additional two years included based on a growth rate of 3.1% per annum, and 2.0% which was used in the determination of the terminal value. The rate does not exceed the average long-term growth rate for the relevant markets. The rate used to discount the forecast cash flows is 12.6%. A decrease to the growth rate by 1.42% or an increase to the discount rate by 1.07% used in management’s value in use assessment will result in the recoverable amount to be equal to the total carrying amount of goodwill (on the basis that each of the other key assumptions remain unchanged).

OTHER INVESTMENTS

OTHER INVESTMENTS	12 Months Ended
	Dec. 31, 2023
Other Investments [Abstract]
OTHER INVESTMENTS	18 OTHER INVESTMENTS Other investments relate to pension fund surplus from a defined benefit pension plan where the accounting policy is included in Note 26. Other investments are measured at fair value. In connection with the Spin-off of Grindrod Shipping Pte Limited (‘GSPL’) and Grindrod Shipping (SA) (Pty) Limited (‘GSSA’) from Grindrod Limited, Grindrod Limited (former Parent), GSSA and the trustees to the Grindrod Pension Fund (Fund), a defined benefit pension plan operated by Grindrod Limited, resolved that GSSA should be included as a second participating employer of this fund and GSSA will be allocated 40% of the pension surplus which was subject to regulatory approval before this could be enacted. GSPL and GSSA are fellow subsidiaries of the Group. On 7 October 2020, the relevant regulatory approval was obtained and accordingly effective on the 31 December 2020, GSSA was included in the Fund as the second employer. US$3,150,000 (Rands 46,054,000) was transferred from Grindrod Limited’s employer surplus account to the GSSA employer surplus account established within the Fund. Employer surplus account is the excess of the Fund's asset over the Fund's liabilities. F F On 27 September 2023, the relevant regulatory approval was obtained to transfer the balance of the employer surplus account from the Fund to the Alexander Forbes Retirement Fund, which Grindrod Shipping (SA) (Pty) Limited is a participating employer in the Provident section. The balance of the employer surplus account was transferred on 22 December 2023 and will be used for a contribution holiday commencing 1 January 2024. The employer surplus was initially valued at US$3,150,000 based on the quoted market prices in the active markets. Subsequent fair value change in respect of the allocated fund assets are recorded as a component of other comprehensive income. The amounts recognised in the consolidated annual financial statements in this respect are as follows: 2023 2022 US$’000 US$’000 Recognised asset at 1 January 3,714 3,730 Interest income 434 442 Recognised in other comprehensive income in the current year (220 ) (207 ) Translation (315 ) (251 ) Present value of other investment at 31 December 3,613 3,714 The principal actuarial assumptions applied in the determination of fair values include: Discount rate (p.a.) 12.7 % 12.2 %

DEFERRED TAX

DEFERRED TAX	12 Months Ended
	Dec. 31, 2023
Disclosure of deferred taxes [Abstract]
DEFERRED TAX	19 DEFERRED TAX 2023 2022 US$’000 US$’000 Deferred taxation analysed by major category: Other timing differences 258 1,304 258 1,304 Reconciliation of deferred taxation: Opening balance 1,304 2,123 Credit to profit or loss for the year (Note 35) (107 ) (665 ) Acquisition of subsidiary (Note 37) (841 ) - Credit (charge) to other comprehensive income arising from actuarial gain 10 (45 ) Exchange differences (108 ) (109 ) Closing balance 258 1,304 Comprising: Deferred tax assets 1,019 1,304 Deferred tax liabilities (761 ) - 258 1,304 At the end of the reporting period, the aggregate amount of temporary differences associated with undistributed earnings of subsidiaries for which deferred tax liabilities have not been recognised is US$277,000 (2022: US$2,814,000). No liability has been recognised in respect of these differences because the Group is in a position to control the timing of the reversal of the temporary differences and it is probable that such differences will not reverse in the foreseeable future. Accounting policy Deferred tax is recognised on the differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Deferred tax assets are only recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Deferred tax liabilities are recognised for taxable temporary differences, unless specifically exempt. Deferred tax are recognised as an expense or income in profit or loss, except when they relate to items credited or debited outside profit or loss (either in OCI or directly in equity), in which case the tax is also recognised outside profit or loss (either in OCI or directly in equity, respectively), or where they arise from the initial accounting for a business combination. In the case of a business combination, the tax effect is taken into account in calculating goodwill or determining the excess of the acquirer’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over cost.

TRADE AND OTHER PAYABLES

TRADE AND OTHER PAYABLES	12 Months Ended
	Dec. 31, 2023
Trade and other payables [abstract]
TRADE AND OTHER PAYABLES	20 TRADE AND OTHER PAYABLES 2023 2022 US$’000 US$’000 Trade payables 8,520 10,035 Accrued expenses 15,017 19,250 Earn-out consideration (Note 37) 8,061 - Other 250 454 31,848 29,739 Non-current trade and other payables (1,153 ) (140 ) Current trade and other payables 30,695 29,599 Trade payables, accruals and other payables comprising of amounts outstanding for trade purchases and ongoing costs, are recognised at amortised cost and their carrying value approximates fair value. The remaining payment terms are predominately 30 days. The non-current trade and other payables for 2023 relates to earn-out consideration (Note 37). The Group’s trade and other payables are predominantly non-interest bearing and unsecured.

CONTRACT LIABILITIES

CONTRACT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Contract liabilities [abstract]
CONTRACT LIABILITIES	21 CONTRACT LIABILITIES Advances received are classified as contract liabilities in accordance with IFRS 15 Revenue from Contracts with Customers There were no significant changes in the contract liabilities balances during the reporting period.

LEASES AND SHIP CHARTERS

LEASES AND SHIP CHARTERS	12 Months Ended
	Dec. 31, 2023
Disclosure of leases [Abstract]
LEASES AND SHIP CHARTERS	22 LEASES AND SHIP CHARTERS a) As Lessor Operating leases, in which the Group is the lessor relates to 7 ships owned by the Group chartered out under time charter party agreement with a lease term of between 2 months and 11 months. These leases do not have any options to purchase the ship at the expiry of the lease period. Maturity analysis of operating lease payments: 2023 2022 US$’000 US$’000 Year 1 5,915 - Total 5,915 - b) As Lessee At 31 December 2023, the Group is committed to US$4,763,000 (2022: US$nil) for short-term leases of ships.

LEASE LIABILITIES

LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2023
Lease liabilities [abstract]
LEASE LIABILITIES	23 LEASE LIABILITIES Office and residential property Ships Ships equipment Total US$’000 US$’000 US$’000 US$’000 Balance at 1 January 2022 818 32,194 259 33,271 Additions 898 48,829 39 49,766 Interest expense 37 1,370 7 1,414 Lease payments (905 ) (57,304 ) (135 ) (58,344 ) - Principal (868 ) (37,934 ) (128 ) (38,930 ) - Purchase option payments (1) - (18,000 ) - (18,000 ) - Interest expense (37 ) (1,370 ) (7 ) (1,414 ) Effect of foreign currency exchange differences 6 - - 6 Lease liabilities as at 31 December 2022 854 25,089 170 26,113 Additions (2) 3,310 62,600 83 65,993 Disposals (66 ) - (44 ) (110 ) Acquisition of subsidiary (Note 37) 80 - - 80 Interest expense 199 2,132 3 2,334 Lease payments (1,824 ) (58,667 ) (119 ) (60,610 ) - Principal (1,625 ) (32,055 ) (116 ) (33,796 ) - Purchase option payments (1) - (24,480 ) - (24,480 ) - Interest (199 ) (2,132 ) (3 ) (2,334 ) Effect of foreign currency exchange differences 5 - - 5 Lease liabilities as at 31 December 2023 2,558 31,154 93 33,805 (1) Principal repayment and purchase option payment are included in principal repayments of lease liabilities as disclosed under financing activities in the statement of cash flows. (2) Includes a Japanese Yen denominated committed purchase option to be exercised in 2024. This has been converted at a rate of 142 in terms of a forward exchange contract. 2023 2022 US$’000 US$’000 Analysed between: Current portion 32,432 22,058 Non-current portion 1,373 4,055 33,805 26,113 Maturity analysis of lease liabilities is disclosed in Note 4. The Group does not face a significant liquidity risk with regard to its lease liabilities. Lease liabilities are monitored within the Group’s treasury function. During the financial year 2022, one of the charter contracts requiring the recognition of a right-of-use asset and a lease liability contains variable payment terms that is linked to an index and such variable lease payments are recognised in charter hire cost in the profit or loss in the period in which the condition that triggers those payments occurs. The charter contract was renewed in May 2022, with no variable payment terms. Accounting policy The Group as lessee The Group assesses whether a contract is or contains a lease, at inception of the contract. The Group recognises a right-of-use asset (Note 13) and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the Group recognises the lease payments as an operating expense on a straight-line basis over the term of the lease. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses the incremental borrowing rate specific to the lessee. Lease payments included in the measurement of the lease liability comprise: · fixed lease payments (including in-substance fixed payments), less any lease incentives; · variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; · the exercise price of purchase options, if the lessee is reasonably certain to exercise the options. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: · the lease term has changed or there is a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate; · the lease payments change due to changes in an index in which case the lease liability is remeasured by discounting the revised lease payments using the initial discount rate; or · a lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. Whenever the Group incurs an obligation for costs to dismantle and remove a leased asset, restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of the lease, a provision is recognised and measured under IAS 37. The costs are included in the related right-of-use asset, unless those costs are incurred to produce inventories. The Group has applied the practice expedient to account for any lease and associated non-lease components as a single arrangement.

BANK LOANS AND OTHER BORROWINGS

BANK LOANS AND OTHER BORROWINGS	12 Months Ended
	Dec. 31, 2023
Secured loan [Abstract]
BANK LOANS AND OTHER BORROWINGS	24 BANK LOANS AND OTHER BORROWINGS 2023 2022 US$’000 US$’000 Secured – at amortised cost: Bank loans 95,319 148,002 Other borrowings 46,898 50,966 142,217 198,968 Analysed between: Current 18,578 33,330 Non-current portion 123,639 165,638 142,217 198,968 Interest payable (included in bank loans) 1,102 1,752 Non-current bank loans and other borrowings are estimated to be payable as follows: Within 2 to 5 years 101,555 138,809 After 5 years 22,084 26,829 123,639 165,638 Bank loans i. US$100.0 million senior secured credit facility The facility bears interest at London Interbank Offered Rate (“LIBOR”) plus 2.95% per annum and is made up of two tranches. Tranche A and B are repayable quarterly commencing 16 August 2018 and mature on 15 May 2022 and 15 May 2023 respectively, with the option to extend for a further two years. Tranche A of US$10,000,000 has been fully repaid. Facility fees of US$1,750,000 were payable to the lender upon signing the new loan agreement. Additional fees of US$164,000 were paid on 2 June 2021 for the lender swap. These were recorded as transaction costs to the loan account to the extent the loan was drawn down. As at 31 December 2023, the loan was fully repaid (31 December 2022, the outstanding balance in relation to this facility was US$10,065,000, net of US$160,000 facility fees). ii. US$6.3 million secured term facility The facility bears interest at LIBOR plus 2% per annum and is repayable quarterly, commencing on 6 September 2018 and matures on 6 June 2023. Facility fees of US$32,000 were payable to the lender upon signing the new loan agreement. These were recorded as transaction costs to the loan account to the extent the loan was drawn down. As at 31 December 2023, the loan was fully repaid (31 December 2022, the outstanding balance in relation to this facility was US$633,000, net of US$3,000 facility fees). iii. Combined US$31.4 million senior secured credit facility On 29 July 2019, the Group entered into two term facilities, each for an amount up to US$15,720,000 to finance the acquisition of two supramax/ultramax newbuildings. The facilities bear interest at Secured Overnight Financing Rate (“Term SOFR”) along with a credit adjustment spread plus 2% per annum and is repayable quarterly, commencing on 5 November 2019 and 20 December 2019 and matures on 5 August 2026 and 24 September 2026. Facility fees of US$78,600 were payable to the lender upon drawdown of each loan agreement. These were recorded as transaction costs to the loan account to the extent the loan was drawn down. As at 31 December 2023, the outstanding balances in relation to these facilities are US$22,630,000, net of US$60,000 facility fees (31 December 2022: US$24,692,000, net of US$82,000 facility fees). iv. Combined US$114.1 million senior secured credit facility On 10 February 2020, the Group entered into a senior secured term loan facility for 11 drybulk vessels for the purpose of refinancing the existing indebtedness. The facility bears interest at Term SOFR along with a credit adjustment spread plus 3.10% per annum and is repayable quarterly, commencing on 13 May 2020 and matures on 13 February 2025. Facility fees of US$ 1,634,137 were payable to the lender upon drawdown of the loan agreement. These were recorded as transaction costs to the loan account to the extent the loan was drawn down. On 15 September 2021, the finance agreement was amended to drawdown an additional US$ 23,031,000 and additional fees of US$691,000 were paid to the lender on the second drawdown. As at 31 December 2023, the outstanding balances in relation to these facilities are US$63,599,000, net of US$ 594,000 facility fees (31 December 2022: US$ 102,454,000, net of US$ 1,123,000 facility fees). vi. Combined US$13.1 million senior secured credit facility On 31 January 2020, the Group entered into a senior secured term loan facility for one drybulk vessel for the purpose of refinancing the existing indebtedness. On 14 August 2023, the parties to the facility agreement entered into an amendment and restatement agreement the purpose of which was to transition the interest rate from LIBOR to Term SOFR. The bank loans are secured by cash and certain ships owned by the Group. The cash pledged and the carrying value of the ships under security charge as at 31 December 2023 are US$6,970,000 (31 December 2022: US$10,009,000) and US$198,318,000 (31 December 2022: US$330,920,000) respectively. In addition, there are charges over the relevant subsidiaries’ earnings, insurances, charter and charter guarantees and any requisition compensation. Certain of the bank loans are guaranteed by Grindrod Shipping Pte. Ltd. and/or Grindrod Shipping Holdings Limited. The bank loans are arranged at Term SOFR along with a credit adjustment spread plus the respective margins. These bear a weighted average effective interest rate of 9.44% (31 December 2022: 8.16%) per annum. These bank loan facilities contain financial covenants where the most stringent of which require the Group to maintain the following: · book value net worth of the lower of (a) the aggregate of US$200 million plus 25% of the amount of positive retained earnings plus 50% of each capital raise and (b) US$275 million ; · cash and cash equivalents (including restricted cash held in the debt service reserve account) of US$30 million; · a ratio of debt to market adjusted tangible fixed assets of not more than 75%; and · positive working capital, such that consolidated current assets must exceed the consolidated current liabilities excluding any adjustments made for IFRS 16. The Group was in compliance with its financial covenants as of 31 December 2023 and 31 December 2022. Other borrowings Other borrowings relate to US$60,750,000 (31 December 2022: US$60,750,000) in financing arrangements entered into with third parties with respect to four of the vessels in the Group we regard as owned. The arrangements commenced on 26 June 2019, 20 September 2019, 20 November 2019 and 16 September 2021, respectively, are payable monthly in advance and bear interest at Term SOFR along with a credit adjustment spread plus 1.7% per annum and Term SOFR along with a credit adjustment spread plus 1.75% per annum. The loans mature on 26 May 2030, 20 August 2031, 20 October 2031 and 16 August 2036. As at 31 December 2023, the outstanding balances in relation to these borrowings is US$46,898,000 (31 December 2022: US$50,966,000). The carrying value of the ships under security charge as at 31 December 2023 is US$51,524,000 (31 December 2022: US$55,557,000).

PROVISIONS

PROVISIONS	12 Months Ended
	Dec. 31, 2023
Provision for onerous contracts [Abstract]
PROVISIONS	25 PROVISIONS 2023 2022 US$’000 US$’000 Provision for onerous contracts (i) 277 592 277 592 (i) 2023 2022 Analysis of provision for onerous contracts: US$’000 US$’000 Balance at 1 January 592 1,019 Provision raised 277 592 Released to profit or loss (592 ) (1,019 ) Balance at 31 December 277 592 Accounting policy Present obligations arising under onerous contracts are recognised and measured as a provision. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling a contract comprises the costs that relate directly to the contract which include both the incremental costs of fulfilling that contract and an allocation of other costs that relate directly to fulfilling contracts. Before a separate provision for an onerous contract is established, the Group recognises any impairment loss that has occurred on assets used in fulfilling the contract.

RETIREMENT BENEFIT OBLIGATION

RETIREMENT BENEFIT OBLIGATION	12 Months Ended
	Dec. 31, 2023
Disclosure of employee benefits [Abstract]
RETIREMENT BENEFIT OBLIGATION	26 RETIREMENT BENEFIT OBLIGATION The Group subsidises the medical aid contributions of certain retired employees and has an obligation to subsidise contributions of certain current employees when they reach retirement. In prior periods, the Group undertook to offer pensioners a voluntary benefit in lieu of their current medical subsidy in order to close out the liability on the statement of financial position. The proposed offer had three options, namely an annuity offer, a cash offer or to remain in the scheme. A number of employees chose the annuity and cash offer. The provision has been calculated on the remaining individuals in the scheme. The risks typically faced by the Group as a result of the post-retirement medical aid are risks relating to inflation, longevity, future changes in legislation, future changes in tax environment, perceived inequality by non-eligible employees, administration of fund and enforcement of eligibility criteria and rules. During December 2023 and 2022 The amounts recognised in the annual financial statements in this respect are as follows: 2023 2022 US$’000 US$’000 Recognised liability at beginning of the year 1,397 1,613 Recognised in profit or loss in the current year 146 159 Interest on obligation 146 159 Recognised in other comprehensive income in the current year Actuarial loss (gain) 16 (156 ) Translation (118 ) (101 ) Employer payments (122 ) (118 ) Present value of unfunded obligation recognised as a liability at end of year 1,319 1,397 Analysis between: Current portion 125 125 Non-current portion 1,194 1,272 1,319 1,397 The principal actuarial assumptions applied in the determination of fair values include: Health care cost inflation 7.8 % 7.8 % Discount rate 12.0 % 11.9 % CPI inflation 6.3 % 6.3 % Continuation at retirement 100.0 % 100.0 % 2023 2022 Increase Increase (Decrease) (Decrease) Health care cost inflation 7.8 % (6.9 ) 8.5 % (7.5 ) Discount rate (7.0 ) 8.0 % 8.1 % (7.1 ) The sensitivity analysis presented above may not be representative of the actual change in the obligation as it is unlikely that the above change in assumptions would occur in isolation of one another. There was no change in the methods and assumptions used in preparing the sensitivity analysis from the prior year. The average duration of the benefit obligation as at 31 December 2023 is 9 years (31 December 2022: 9 years and 2021: 10 years). 2023 2022 US$’000 US$’000 Present value of unfunded obligations 1,319 1,397 Present Value of obligations in excess of plan assets 1,319 1,397 Accounting policy Payments to defined contribution retirement benefit plans are charged as an expense when employees have rendered the services entitling them to the contributions. Payments made to state-managed retirement benefit schemes, such as the Singapore Central Provident Fund, and South African defined contribution provident funds, are dealt with as payments to defined contribution plans where the Group’s obligations under the plans are equivalent to those arising in a defined contribution retirement benefit plan. For defined benefit retirement benefit plans, the cost of providing benefits is determined using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the statement of financial position with a charge or credit recognised in OCI in the period in which they occur. Remeasurement recognised in OCI is reflected immediately in retained earnings and will not be reclassified to profit or loss. Past service cost is recognised in profit or loss in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset. Defined benefit costs are categorised as follows: · service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements); · net interest expense or income; and · remeasurement The Group presents the first two components of defined benefit costs in profit or loss in the line item ‘Administrative expense’. Net interest income is recognised within interest income (Note 32). The retirement benefit obligation recognised in the consolidated statement of financial position represents the actual deficit or surplus in the Group’s defined benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans.

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Dec. 31, 2023
SHARE CAPITAL AND PREMIUM [Abstract]
SHARE CAPITAL	27 SHARE CAPITAL Number of shares Share capital US$’000 Issued and paid up: At 1 January 2021 19,063,833 320,683 Issued during the year 246,191 - At 31 December 2021 19,310,024 320,683 Issued during the year 161,984 - At 31 December 2022 19,472,008 320,683 Issued during the year 213,582 1,950 Distribution to shareholders - (32,440 ) At 31 December 2023 19,685,590 290,193 In the TMI Offer, a proposal (the “Award Election Opportunity”) was made by the Offeror and the Company to the holders of outstanding awards which are unvested or vested but remain unsettled (“FSA Holders”) which was granted under the Grindrod Shipping Holdings Ltd. 2018 Forfeitable Share Plan (Note 29). On December 1, 2022, 161,984 new ordinary shares were issued to fulfil the outstanding Company Forfeitable Shares. On 1 March 2021, the Company issued 246,191 additional shares of no par value to certain employees to partially settle the 2018 FSP awards that vested on 1 March 2021. On 4 October 2023, the Company issued 213,582 additional shares with a par value of US$1,950,000 for the acquisition of Tamar Ship Management Limited and Taylor Maritime Management Limited (Note 37). On 29 September 2023, the company lodged with the Accounting and Corporate Regulatory Authority in Singapore relevant documents required for a capital reduction which became effective on the same date. through cash on record as of 20 October 2023 Except for treasury shares, fully paid ordinary shares, which have no par value, carry one vote per share and a right to dividends as and when declared by the company.

OTHER EQUITY AND RESERVES

OTHER EQUITY AND RESERVES	12 Months Ended
	Dec. 31, 2023
Other Equity And Reserves [Abstract]
OTHER EQUITY AND RESERVES	28 OTHER EQUITY AND RESERVES 2023 2022 US$’000 US$’000 Hedging reserve (554 ) (1,337 ) Translation reserve (11,305 ) (10,700 ) Merger reserve (12,649 ) (12,649 ) At 31 December 2023 (24,508 ) (24,686 ) Treasury shares Number of shares Share capital US$’000 Balance at 1 January 2022 825,163 11,870 Reissued to Offeror under the TMI Offer (825,163 ) (11,870 ) Balance at 31 December 2022 - - On 29 May 2020 and 27 May 2021, shareholders granted the board of directors with the authority to repurchase shares of the company. The repurchase authority expires at the next Annual General Meeting, unless renewed, and may be suspended or terminated by the company at any time without prior notice. The authority allows the company to acquire ordinary shares in the open market on NASDAQ and the JSE. On 1 December 2022, the minimum conditions of the TMI Offer were met and all awards vested. All employees agreed to transfer their shares and all treasury shares were reissued to Good Falkirk (MI). See share compensation reserve below for further information. Shares issued out of treasury shares are accounted for on a first-in first-out basis. Share compensation reserve 2023 2022 US$’000 US$’000 Balance at 1 January - 4,777 Share-based payments expenses - 8,134 Treasury shares issued to employees under the Forfeitable Share Plan - (12,911 ) Balance at 31 December - - The Group operates the 2018 FSP, in which certain employees of the company and its subsidiaries participate. 2018 FSP is an equity settled share based payment which is measured at the fair value of the equity instruments at the grant date and is expensed on a straight-line basis over the vesting period, based on the Group’s estimate of the number of equity instruments that will eventually vest. At each reporting date, the Group revises its estimate of the number of equity instruments expected to vest as a result of the effect of non-market-based vesting conditions. The impact of the revision of the original estimates, if any, is recognised in profit or loss such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to reserves. On 31 July 2018, the Group granted the participating employee’s entitlements to be settled with a specified number of ordinary shares in the company (‘Awards”) which shares will be allotted and issued in 3 equal tranches over a period of 3 years commencing on 1 March 2020. On 9 June 2020, 2 July 2021, 23 August 2021 and 29 April 2022, the Group granted additional Awards which shares will be allotted and issued in 3 equal tranches over a period of 3 years commencing on 1 March 2021 for the awards granted in 2020, 1 March 2022 for the Awards granted in 2021 and 1 March 2023 for the Awards granted in 2022. A participant has no ownership rights (such as rights to dividends and voting) in the ordinary shares subject to the Award until such right has vested and the ordinary shares have been registered in the participant’s name. The Award is subject to the risk of forfeiture until the vesting date should the participating employee no longer be employed for the period ending on the vesting date. However, the participating employee may be settled with all or a portion of the Award as determined by the rules of the 2018 FSP depending on the reasons for termination of his employment prior to the vesting date, and, in the case of retirement or termination for a reason not specifically set out in the 2018 FSP prior to the vesting date, subject to the discretion of the Compensation and Nomination Committee. The vesting of the ordinary shares is not subject to any performance-related conditions. The Group may utilise treasury shares or issue new ordinary shares when settling shares upon a participating employee. The employee is not required to make any payment for the ordinary shares settled upon him or her but is liable for taxation thereon. At any time, the aggregate number of ordinary shares of the company may be granted under Awards that have not vested shall not exceed 5% of the ordinary shares in issue (excluding treasury shares) on the day preceding the Award. The 2018 FSP was adopted on 4 May 2018. As at 31 December 2022, 862,502 ordinary shares were subject to Awards that had not been forfeited or vested and the maximum number of ordinary shares in respect of which further Awards could have been granted under the 2018 FSP in 2022 was 102,999. On 1 December 2022, the minimum conditions of the TMI Offer were met and all outstanding awards vested and were settled during the year. Details of the share awards outstanding during the year are as follows: Number of share awards: 2018 2020 2021 2022 Total Outstanding at 1 January 2022 220,668 124,500 516,000 - 861,168 Issued during the year - - - 232,646 232,646 Forfeited during the year - - (106,667 ) - (106,667 ) Awards vested to employees under the Forfeitable Share Plan (220,668 ) (80,500 ) (171,996 ) (38,468 ) (511,632 ) Awards vested to employees under TMI Offer - (44,000 ) (237,337 ) (194,178 ) (475,515 ) Outstanding at 31 December 2022 - - - - - US$ US$ US$ US$ Fair value at grant date 10.18 2.90 11.85 25.58 The fair value at grant date is determined based on the share price on the date of the grant. The Group recognised total expenses of US$8,134,000 relating to the 2018 FSP during 2022. Following the TMI Offer and settlement of the shared based payments scheme in 2022, there are no share awards outstanding as of December 31, 2022 and 2023. Accordingly, no share based payments expense was recognised in 2023. Hedging reserve The hedging reserve represents hedging gains and losses recognised on the effective portion of cash flow hedges. The cumulative deferred gain or loss on the hedge recognised in OCI and accumulated in hedging reserve is reclassified to profit or loss when the hedged transaction impacts the profit or loss, or is included as a basis adjustment to the non-financial hedged item, consistent with the applicable accounting policy. Translation reserve Exchange differences relating to the translation from the functional currencies of the Group’s foreign subsidiaries into United States dollars are brought to account by recognising those exchange differences in OCI and accumulating them in a separate component of equity under the header of translation reserve. Gains and losses on hedging instruments that are designated as hedges of net investments in foreign operations are also recognised in OCI and accumulated in a separate component of equity under the header of translation reserve. Merger reserve This represents the residual differences between the ‘Parent invested capital’ and the Company’s ‘share capital’ as a result of the Spin-off of GSPL and GSSA from Grindrod Limited and the residual difference between the non-controlling interest and the purchase consideration for the remaining equity interest in IVS Bulk.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2023
Revenue [abstract]
REVENUE	29 REVENUE A disaggregation of the Group’s revenue for the year based on timing of revenue recognition is as follows: 2023 2022 2021 US$’000 US$’000 US$’000 Over time: Charter hire 82,511 193,631 210,079 Freight revenue 143,535 236,327 245,179 Vessel revenue 226,046 429,958 455,258 Management fees 2,945 521 581 Other 2,945 521 581 At a point in time: Sale of ships 153,668 29,600 - Sale of bunkers and other consumables 4,437 381 - Ship sales 158,105 29,981 - 387,096 460,460 455,839 Management expects that 100% of the transaction price allocated to the unsatisfied contracts as of 31 December 2023 will be recognised as revenue during the next reporting period. The Group applies the practical expedient in paragraph 121 of IFRS 15 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. Accounting policy Vessel revenue The primary source of revenue for the Group is vessel revenue; comprising of charter hire of ships and freight revenue. Charter hire - The Group earns hire revenue by placing its vessels on time charter, bareboat charter and in pool arrangements. The performance obligations within pool and time-charter contracts include the bareboat charter and the operation of the vessel. The bareboat charter of the contract is accounted for as an operating lease under IFRS 16 Leases For time and bareboat charter contracts, hire is typically invoiced bi-monthly or monthly in advance and hire revenue is accrued based on the daily hire rates. Other variable hire components of the contract, such as off-hire and speed claims, are recognised only to the extent that it is highly probable that a significant reversal will not occur when the uncertainty is subsequently resolved. In a small number of charters, the Group may earn profit share consideration, which occurs when actual spot rates earned by the vessel exceed certain thresholds for a period of time. For pool arrangements, the Group has two types of such arrangements: 1) Pool arrangements that are controlled and managed by the Group namely, IVS Handysize Pool and IVS Supramax Pool; and 2) Pool arrangements operated by third parties in which the Group’s owned vessels are placed. An assessment is performed to determine who is the principal and agent in such arrangements. Indicators that the Group as the pool manager is a principal in a pool arrangement are: · The contract with the end charterer specifically names the pool, rather than the shipowner; · The pool manager is responsible for managing issues that may arise during the end charterer’s use of the vessel; · The pool manager has the power to decide which vessel in the pool it will use to fulfill the contract with the end charterer; and · The pool manager sets the prices that the end charterer will pay to use the vessel. The Group has evaluated that it has the exclusive rights as the pool manager and hence it is a principal in the IVS Handysize and IVS Supramax Pool arrangements. In such arrangements, the Group recognizes total amount of the gross revenue earned by the pools as the revenue which it expects to be entitled for the satisfaction of the performance obligation and correspondingly, it also recognizes the share of third party vessel owners’ net earnings of the pool in the voyage expenses in the period incurred. The Group has identified that the contracts between the pools and vessels owners to contain a lease in accordance with IFRS 16. On the other hand, for third party pool arrangements that the Group’s vessels participate in, the Group recognises revenue from these pool arrangements based on its portion of the net distributions reported by the relevant pool, which represents the net voyage revenue of the pool after voyage expenses and pool manager fees. The net distribution is computed based on pool index and the participation days of the Group’s vessels in these third party pool arrangements. The pool index is variable and dependent on the participating vessels within the pool. Freight revenue – The Group recognises freight revenue for each specific voyage which is usually priced on a current or "spot" market rate and then adjusted for predetermined criteria. The performance obligations for freight revenue commence from the time the ship is ready at the load port until the cargo has been delivered at the discharge port. The revenue will be recognised over the duration of the voyage between the two points, as measured using the time that has elapsed from commencement of performance at the load port. Management assesses the stage of completion as determined by the proportion of the total time expected for the voyage that has elapsed at the end of the reporting period as an appropriate measure of progress towards complete satisfaction of these performance obligations and the revenue is recognised in accordance with the calculated stage of completion. The duration of a single voyage will typically be less than three months. Demurrage and despatch are considered at contract inception and estimates are updated throughout the contract period. The consideration for demurrage and despatch will be recognised in the period within which such consideration was incurred. A contract asset is recognised over the period in which the freight services are performed representing the entity’s right to consideration for the services performed as at the end of the reporting period. Sale of ships, bunkers and other consumables The Group generates revenue from the sale of ships, bunkers and other consumables. Revenue is recognised when control of the ships, bunkers and other consumables have been delivered to the buyer. The Group only has the right to the consideration at the point of transfer of the asset. Management fees The Group also generates revenue from the management and operation of vessels owned by third parties, related companies and other related parties as well as providing corporate management services to such entities. The performance obligations within these contracts will typically consist of crewing, technical management, insurance and commercial management. The performance obligations are satisfied concurrently and consecutively rendered over the duration of the management contract, as measured using the time that has elapsed from commencement of performance. Consideration for such contracts will generally consist of a fixed monthly management fee, plus the reimbursement of crewing and other costs for vessels being managed. Management fees are typically invoiced monthly.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2023
Disclosure of segments abstract [Abstract]
SEGMENT INFORMATION	30 SEGMENT INFORMATION The information reported to the Group’s chief operating decision maker, who are directors of the Group, for the purpose of resource allocation and assessment of segment performance is provided based on the 3 operating segments within the Group, which are also reportable segments of the Group: The Group operates a diversified fleet of owned and long-term chartered vessels across the world. The Group operates the drybulk business with a focus on the categories of vessels – namely Handysize and Supramax/Ultramax, with all others businesses categorized as Others. Accordingly, the reportable segments are: Handysize; Supramax/Ultramax and Others. The reportable segments of the Group have been identified on a primary basis by the business segment which is representative of the internal reporting used for management purposes, including the chief operating decision maker, as well as the source and nature of business risks and returns. Joint-ventures financial information are included within the segment information on a proportionate consolidation basis as the Group’s chief operating decision maker reviews them together with the entities of the Group. Accordingly, joint-ventures’ proportionate financial information are adjusted out to reconcile to the consolidated financial statements in the ‘Adjustments’ column. Segment profit (i.e. Gross profit (loss)) represents the profit earned by each segment without allocation of central administration costs and directors’ salaries. This is the measure reported to the Group’s chief operating decision maker for the purposes of resource allocation and assessment of segment performance. Group activities that do not relate to the above segments are accumulated in the ‘Unallocated’ segment financial information. Revenue reported in the segments represents revenue generated from external customers. There were no inter-segment sales in 2023, 2022 and 2021. For the purpose of monitoring segment performance and allocating resources between segments, the chief operating decision maker monitors the tangible, intangible and financial assets at the consolidated Group level. It is not practical to report revenue or non-current assets on a geographical basis due to the international nature of the shipping market. For the years ended 31 December 2023, 2022 and 2021, no customers accounted for 10% or more of the Group’s drybulk business revenue within the Handysize and Supramax/Ultramax segments. The accounting policies of the segments are the same as the Group’s accounting policies as described in Note 2 and throughout the notes. The following is an analysis of the Group’s revenue, results and additions and impairments to non-current assets by segment 2023 Drybulk Carrier Business Other Total Unallocated Total Adjustments Total Handysize Supramax/ Ultramax Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Vessel revenue 87,918 138,128 - 226,046 - 226,046 - 226,046 Ship sale revenue 63,760 94,345 - 158,105 - 158,105 - 158,105 Other 90 27 2,828 2,945 - 2,945 - 2,945 Total revenue 151,768 232,500 2,828 387,096 - 387,096 - 387,096 Voyage expenses (25,355 ) (49,259 ) - (74,614 ) - (74,614 ) - (74,614 ) Vessel operating costs (28,788 ) (16,921 ) 2,708 (43,001 ) - (43,001 ) - (43,001 ) Charter hire costs (13,334 ) (13,618 ) - (26,952 ) - (26,952 ) - (26,952 ) Depreciation of ships, drydocking and plant and equipment– owned assets (14,076 ) (10,748 ) - (24,824 ) - (24,824 ) - (24,824 ) Depreciation of ships and ship equipment – right-of-use assets (14 ) (30,329 ) - (30,343 ) - (30,343 ) - (30,343 ) Cost of ship sale (60,582 ) (87,168 ) 310 (147,440 ) - (147,440 ) - (147,440 ) Other (373 ) (182 ) - (555 ) - (555 ) - (555 ) Costs of sales (142,522 ) (208,225 ) 3,018 (347,728 ) - (347,728 ) - (347,728 ) Gross profit 9,246 24,275 5,846 39,368 - 39,368 - 39,368 Operating (loss) profit (2,035 ) 14,550 (117 ) 12,398 (7,036 ) 5,362 - 5,362 Interest income 1,373 1,413 6 2,792 6 2,798 - 2,798 Interest expense (6,416 ) (10,682 ) (1 ) (17,099 ) - (17,099 ) - (17,099 ) Income tax (expense) benefit (192 ) (203 ) 9 (386 ) (297 ) (683 ) - (683 ) (Loss) profit for the period (7,270 ) 5,078 (103 ) (2,295 ) (7,327 ) (9,622 ) - (9,622 ) (Reversal of) impairment loss on ships and assets under construction 1,849 (159 ) - 1,690 - 1,690 - 1,690 Capital expenditure 37,472 837 419 38,728 - 38,728 - 38,728 2022 Drybulk Carrier Business Others Total Unallocated Total Adjustments Total Handysize Supramax/ Ultramax US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Vessel revenue 159,524 268,352 2,082 429,958 - 429,958 - 429,958 Ship sale revenue - - 29,981 29,981 - 29,981 - 29,981 Other 410 111 - 521 - 521 - 521 Total revenue 159,934 268,463 32,063 460,460 - 460,460 - 460,460 Voyage expenses (30,683 ) (60,420 ) (1 ) (91,104 ) - (91,104 ) - (91,104 ) Vessel operating costs (31,625 ) (18,249 ) 2,973 (46,901 ) - (46,901 ) - (46,901 ) Charter hire costs (12,126 ) (46,800 ) - (58,926 ) - (58,926 ) - (58,926 ) Depreciation of ships, drydocking and plant and equipment– owned assets (17,946 ) (11,791 ) (761 ) (30,498 ) - (30,498 ) - (30,498 ) Depreciation of ships and ship equipment – right-of-use assets (14 ) (35,662 ) - (35,676 ) - (35,676 ) - (35,676 ) Cost of ship sale - - (29,897 ) (29,897 ) - (29,897 ) - (29,897 ) Other (1,024 ) 334 (6 ) (696 ) - (696 ) - (696 ) Costs of sales (93,418 ) (172,588 ) (27,692 ) (293,698 ) - (293,698 ) - (293,698 ) Gross profit 66,516 95,875 4,371 166,762 - 166,762 - 166,762 Operating profit 54,904 76,546 2,200 133,650 (14,621 ) 119,029 5 119,034 Interest income 881 1,085 161 2,127 101 2,228 - 2,228 Interest expense (7,847 ) (8,075 ) (1,211 ) (17,133 ) - (17,133 ) - (17,133 ) Share of losses of joint ventures - - - - - - (5 ) (5 ) Income tax benefit (308 ) (426 ) (23 ) (757 ) - (757 ) - (757 ) Profit for the period 47,630 69,130 1,127 117,887 (14,520 ) 103,367 - 103,367 Reversal of impairment loss recognised on ships (1,707 ) - - (1,707 ) - (1,707 ) - (1,707 ) Impairment loss on right-of-use asset - 985 - 985 - 985 - 985 Capital expenditure 5,529 3,812 78 9,419 - 9,419 - 9,419 2021 Drybulk Carrier Business Others Total Unallocated Total Adjustments Total Handysize Supramax/ Ultramax US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Vessel revenue 157,707 292,179 5,372 455,258 - 455,258 - 455,258 Ship sale revenue - - - - - - - - Other 503 78 - 581 - 581 - 581 Total revenue 158,210 292,257 5,372 455,839 - 455,839 - 455,839 Voyage expenses (27,235 ) (69,600 ) (129 ) (96,964 ) - (96,964 ) - (96,964 ) Vessel operating costs (31,043 ) (15,811 ) 2,896 (43,958 ) - (43,958 ) - (43,958 ) Charter hire costs (11,755 ) (63,626 ) - (75,381 ) - (75,381 ) - (75,381 ) Depreciation of ships, drydocking and plant and equipment– owned assets (13,724 ) (10,474 ) (1,668 ) (25,866 ) - (25,866 ) - (25,866 ) Depreciation of ships and ship equipment – right-of-use assets (17 ) (34,881 ) - (34,898 ) - (34,898 ) - (34,898 ) Cost of ship sale - - - - - - - - Other (457 ) (1,419 ) 1 (1,875 ) - (1,875 ) - (1,875 ) Costs of sales (84,231 ) (195,811 ) 1,100 (278,942 ) - (278,942 ) - (278,942 ) Gross profit 73,979 96,446 6,472 176,897 - 176,897 - 176,897 Operating profit 65,612 78,777 3,616 148,005 (3,379 ) 144,626 31 144,657 Interest income 7 11 163 181 20 201 - 201 Interest expense (4,873 ) (6,376 ) (1,049 ) (12,298 ) - (12,298 ) - (12,298 ) Share of losses of joint ventures - - - - - - (31 ) (31 ) Income tax benefit 3 11 104 118 - 118 - 118 Profit for the period 60,749 72,423 2,834 136,006 (3,359 ) 132,647 - 132,647 Reversal of impairment loss on owned ships (3,557 ) - - (3,557 ) - (3,557 ) - (3,557 ) Reversal of impairment loss on right-of-use assets - (1,046 ) - (1,046 ) - (1,046 ) - (1,046 ) Impairment loss on disposal group - - - 2,551 - 2,551 - 2,551 Impairment of goodwill and intangibles 94 871 - 965 - 965 - 965 Capital expenditure 5,947 26,423 1,134 33,504 - 33,504 - 33,504

OTHER OPERATING (EXPENSE) INCOM

OTHER OPERATING (EXPENSE) INCOME	12 Months Ended
	Dec. 31, 2023
Disclosure Of Other Operating Expense Explanatory [Abstract]
OTHER OPERATING (EXPENSE) INCOME	31 OTHER OPERATING (EXPENSE) INCOME 2023 2022 2021 US$’000 US$’000 US$’000 (Impairment loss) reversal of impairment recognised on ships (Note 12) (2,000 ) 1,707 3,557 (Impairment loss) reversal of impairment recognised on right-of-use assets (Note 13) - (985 ) 1,046 Impairment loss on goodwill (Note 17) - - (965 ) (Impairment loss) reversal of on financial assets (53 ) 45 (2 ) Reversal of impairment of asset under construction (Note 12) 310 - - Lease income (Note 5) 345 - - Net foreign exchange (loss) gain (237 ) (512 ) 95 Gain on disposal of plant and equipment 12 36 14 Gain on disposal of right-of-use asset 3 - 104 Other operating income 277 52 - Other operating expenses (9 ) (2 ) - (1,352 ) 341 3,849

INTEREST INCOME

INTEREST INCOME	12 Months Ended
	Dec. 31, 2023
Disclosure of interest income [Abstract]
INTEREST INCOME	32 INTEREST INCOME 2023 2022 2021 US$’000 US$’000 US$’000 Bank interests 2,363 1,776 201 Other interest 435 452 - 2,798 2,228 201

INTEREST EXPENSE

INTEREST EXPENSE	12 Months Ended
	Dec. 31, 2023
Disclosure of interest expenses [Abstract]
INTEREST EXPENSE	33 INTEREST EXPENSE 2023 2022 2021 US$’000 US$’000 US$’000 Interest on bank loans 13,912 14,119 6,231 Interest on non-bank loans - - 1,808 Amortisation of upfront fees on bank loans 812 1,539 1,263 Other finance costs 41 61 1,095 Interest on lease liabilities 2,334 1,414 1,901 17,099 17,133 12,298

(LOSS) PROFIT BEFORE TAXATION

(LOSS) PROFIT BEFORE TAXATION	12 Months Ended
	Dec. 31, 2023
Disclosure of loss before taxation [Abstract]
(LOSS) PROFIT BEFORE TAXATION	34 (LOSS) PROFIT BEFORE TAXATION (Loss) profit before taxation has been arrived at after charging: 2023 2022 2021 US$’000 US$’000 US$’000 Depreciation of ships, dry-docking and plant and equipment 24,824 30,498 25,866 Depreciation of other property, plant and equipment * 154 57 51 Amortisation of intangible assets * 638 155 165 Total depreciation and amortisation – owned assets 25,616 30,710 26,082 Depreciation of ships and ship equipment – right-of-use 30,343 35,676 34,898 Depreciation of property – right-of-use * 1,695 889 938 Total depreciation and amortisation – right-of-use assets 32,038 36,565 35,836 Total depreciation and amortisation 57,654 67,275 61,918 Cost of inventories recognised as expense (included in voyage expenses) 61,008 78,172 57,633 Expense recognised in respect of equity-settled share-based payments - 8,134 3,336 Employee benefits expenses (including directors’ remuneration and share based payments) 18,330 28,053 27,206 Cost of defined benefit plan and defined contribution plans included in employee benefits expenses 985 1,320 1,096 Tender offer and related expenses - 10,307 - * Included in administrative expense

INCOME TAX EXPENSE (BENEFIT)

INCOME TAX EXPENSE (BENEFIT)	12 Months Ended
	Dec. 31, 2023
Disclosure of income tax [Abstract]
INCOME TAX EXPENSE (BENEFIT)	35 INCOME TAX EXPENSE (BENEFIT) In December 2004, Grindrod Shipping Pte. Ltd. was granted incentives under the Approved International Shipping Enterprise (“AIS”) Scheme, with effect from 10 June 2004. The incentives to the company expired in 2014 and has been renewed through 2024 subject to compliance with specified conditions. As such, the shipping profits of Grindrod Shipping Pte. Ltd. are exempted from income tax under Section 13F of the Singapore Income Tax Act. The shipping profits of the subsidiaries incorporated in Singapore are exempted from income tax under Section 13A of the Singapore Income Tax Act. Income other than shipping profits are taxable at the prevailing Singapore Corporate income tax rate of 17%. During the year ended 31 December 2023, the Singapore operations recorded loss before tax and current income tax expense of US$10,054,000 and US$209,000 respectively (2022: profit US$100,741,000 and US$348,000; 2021: profit US$130,774,000 and US$49,000). During the year ended 31 December 2023, the non-Singapore operations recorded profit before tax, current income tax and deferred tax of US$1,115,000, US$367,000 and US$107,000 respectively (2022: US$2,626,000, benefit US$256,000 and US$665,000; 2021: US$1,873,000, US$380,000 and benefit US$547,000). The tax rate used for the 2023, 2022 and 2021 reconciliations below is the corporate tax rate of 17% payable by corporate entities in Singapore on taxable profits under tax law in that jurisdiction. The corporate taxation rates payable by the South African entities in terms of the tax law in South Africa is 27% (2022 and 2021: 28%). 2023 2022 2021 US$’000 US$’000 US$’000 Current tax In respect of the current year 367 428 513 Withholding taxes 306 127 48 In respect of prior years (97 ) (463 ) (132 ) 576 92 429 Deferred tax In respect of the current year 107 665 (547 ) 107 665 (547 ) Income tax expense (benefit) 683 757 (118 ) The total charge (credit) for the year can be reconciled to the accounting profit (loss) as follows: 2023 2022 2021 US$’000 US$’000 US$’000 (Loss) profit before tax (8,939 ) 104,124 132,529 Income tax (benefit) expense calculated at corporate rate (1,520 ) 17,701 22,530 Adjusted for: Effect of income that is exempt from tax (7,772 ) (32,053 ) (27,890 ) Effect of expenses that are not deductible in determining taxable profit 9,506 15,025 6,204 Effect of different tax rates of subsidiaries operating in other jurisdictions 260 420 (878 ) Overprovision of current tax in prior year (97 ) (463 ) (132 ) Withholding tax 306 127 48 683 757 (118 ) Accounting policy Income tax expense (benefit) in profit or loss represents the sum of the current and deferred tax (Note 19). The current tax payable is based on taxable profit for the year. Taxable profit differs from profit as reported in statement of profit or loss because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are not taxable or tax deductible. The Group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted in countries where the company and subsidiaries operate by the end of the reporting period and any adjustment to tax payable in respect of prior years. Current tax is recognised as an expense or income in profit or loss, except when they relate to items credited or debited outside profit or loss (either in OCI or directly in equity), in which case the tax is also recognised outside profit or loss (either in OCI or directly in equity, respectively), or where they arise from the initial accounting for a business combination. In the case of a business combination, the tax effect is taken into account in calculating goodwill or determining the excess of the acquirer’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over cost.

DISCONTINUED OPERATION

DISCONTINUED OPERATION	12 Months Ended
	Dec. 31, 2023
Disclosure of analysis of single amount of discontinued operations [abstract]
DISCONTINUED OPERATION	36 DISCONTINUED OPERATION The Group completed the sale of the remaining MR tankers and Small tankers in April 2021 as part of a plan to exit the tanker business and focus on the drybulk business. The divestments of the vessels was followed by a restructure of the staff and administration which was completed in December 2021. The MR tanker segment and the Small tanker segment were effectively discontinued as at 31 December 2021. The results of the discontinued operation, which were included in the profit (loss) for the year, were as follows: 2021 US$’000 Revenue 52,980 Cost of sales Voyage expenses (421 ) Vessel operating costs (1,942 ) Other expenses (61 ) Cost of ship sale (50,580 ) Gross loss (24 ) Other operating expense (2,986 ) Administrative expense (2,253 ) Share of losses of joint ventures (1 ) Interest income 35 Interest expense (649 ) Loss before taxation (5,878 ) Income tax benefit 2,713 Net loss attributable to discontinued operation (attributable to the owners of the Company) (3,165 ) Cash flows relating to the discontinued operation of the tanker business were as follows: Net cash flows from discontinued operation Cash generated from 21,902 Cash generated from investing activities 962 Cash used in financing activities (25,949 ) Included in the income tax benefit for 2021 was the reversal of a tax provision of US$2,400,000. On the 7 May 2021, the United Kingdom Upper Tribunal found in the Group’s favour with respect to the tax dispute with Her Majesty’s Revenue & Customs service of the United Kingdom (“HMRC”). HMRC decided not to appeal the decision and a reversal of the tax provision was recorded in profit or loss in the line item ‘Income tax benefit (expense)’.

ACQUISITION OF SUBSIDIARIES

ACQUISITION OF SUBSIDIARIES	12 Months Ended
	Dec. 31, 2023
Sale Of Business [Abstract]
ACQUISITION OF SUBSIDIARIES	37 ACQUISITION OF SUBSIDIARIES On 3 October 2023, the Group acquired the entire issued share capital of Tamar Ship Management Limited (“TSM”) and Taylor Maritime Management Limited (“TMM”) from a related party of TMI, obtaining control of both companies. TSM is a technical ship management company and TMM is a commercial and operational ship management company. Both companies qualify as a business as defined in IFRS 3 Business Combinations . The amounts recognised in respect of the identifiable assets acquired and liabilities assumed at the date of acquisition are set out below: TSM TMM Total 2023 2023 2023 US$’000 US$’000 US$’000 Cash and bank balances including restricted cash 1,733 2,562 4,295 Trade receivables 72 362 434 Other receivables and prepayments 371 184 555 Due from related parties - 2 2 Ships, property, plant and equipment 128 58 186 Right-of-use assets 80 - 80 Tax recoverable 67 - 67 Intangible assets 3,018 2,142 5,160 Trade and other payables (2,268 ) (880 ) (3,148 ) Deferred tax liabilities (477 ) (364 ) (841 ) Due to related parties (233 ) - (233 ) Lease liabilities (80 ) - (80 ) Income tax payable - (2,143 ) (2,143 ) Fair value of net identifiable assets acquired 2,411 1,923 4,334 Goodwill arising on acquisition (a) 3,454 4,470 7,924 Total consideration 5,865 6,393 12,258 Satisfied by: Cash 760 1,487 2,247 Equity instruments (b) 975 975 1,950 Earn-out consideration (c) 4,130 3,931 8,061 5,865 6,393 12,258 (a) The goodwill arising from the acquisition reflects the expected synergies from combining operations of the acquiree and acquirer as well as intangible assets that do not qualify for separate recognition. None of the goodwill is expected to be deductible for tax purposes. (b) The fair value of the 106,791 ordinary shares issued to sellers of acquiree as part of the purchase consideration was US$975,000 for TSM and TMM each. This was determined based on the share price on the date of acquisition. (c) The earn-out consideration is payable in shares of the Company on the first and second anniversary from acquisition completion date. The Company has an option to substitute the shares for cash. The value payable is dependent on the number of vessels under TSM and TMM’s management with a maximum of US$3,900,000. The earn-out becomes immediately payable with a 20% premium in the event of change in buyer control following which the Company’s shares will no longer be listed on the NASDAQ or the JSE. The amount payable including the 20% premium can range from US$Nil to a maximum of US$5,004,000 and US$4,277,000 for TSM and TMM respectively. The fair value was determined by applying the scenario-based method which involves the use of multiple outcomes with probability-weighing the earn-out consideration payable under each outcome. TSM TMM Total Net cash outflows arising on acquisition of 2023 2023 2023 US$’000 US$’000 US$’000 Cash consideration (760 ) (1,487 ) (2,247 ) Less: cash and bank balances including restricted cash 1,733 2,562 4,295 Net cash received from acquisition of subsidiaries 973 1,075 2,048 Acquisition-related costs amounting to US$155,000, have been excluded from the consideration transferred and have been recognised as an expense in the period, within the Other operating (expenses) income line item in profit or loss. The acquisition of TSM and TMM contributed US$2,829,000 revenue and US$328,000 profit to the Group’s loss for the period between the date of acquisition and the reporting date. If the acquisition of TSM and TMM had been completed on the first day of the financial year, Group revenue for the year would have been US$399,984,000 and Group loss would have been US$6,300,000. Accounting policy Acquisition of subsidiaries and businesses are accounted for using the acquisition method. The consideration for each acquisition is measured at the aggregate of the fair values of assets given, liabilities incurred by the Group to the former owners of the acquiree, and equity interests issued by the Group in exchange for control of the acquiree. Acquisition-related costs are recognised in profit or loss as incurred. At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their fair value at the acquisition date. Goodwill is measured as the excess of the sum of the consideration transferred over the net acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. The earn-out contribution payable is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. It is remeasured to fair value at subsequent reporting dates with changes in fair value recognised in profit or loss.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2023
Profit or loss [abstract]
EARNINGS PER SHARE	38 EARNINGS PER SHARE The calculation of basic and diluted earnings per share is based on the following data: From continuing operations and discontinued operation Earnings 2023 2022 2021 US$’000 US$’000 US$’000 (Loss) profit for the purpose of basic (loss) profit per share Net (loss) profit attributable to the shareholders of the Group (9,622 ) 103,367 118,925 Effect of dilutive potential on ordinary shares - - - (Loss) profit for the purposes of diluted (loss) profit per share (9,622 ) 103,367 118,925 Number of shares for the purpose of calculating basic and diluted (loss) profit per share 2023 2022 2021 Weighted average number of ordinary shares for the purpose of basic (loss) profit per share 19,524,087 18,949,972 19,150,787 Effect of dilutive potential ordinary shares due to FSP share awards - - 861,168 Weighted average number of ordinary shares for the purpose of diluted (loss) profit per share 19,524,087 18,949,972 20,011,955 US$ US$ US$ Basic (loss) profit per share (0.49 ) 5.45 6.21 Diluted (loss) profit per share (0.49 ) 5.45 5.94 The following potential ordinary shares are anti-dilutive and are therefore excluded from the weighted average number of ordinary shares for the purpose of diluted (loss) profit per share: Number of shares - - 650,333 The shares granted under the 2018 FSP became dilutive to basic (loss) profit per share in 2021. From continuing operations Earnings 2023 2022 2021 US$’000 US$’000 US$’000 (Loss) profit for the purpose of basic (loss)/profit per share Net (loss) profit attributable to the shareholders of the Group (9,622 ) 103,367 118,925 Adjustments to exclude loss for the year from discontinued operation - - 3,165 (Loss) profit from continuing operations for the purpose of basic (loss) profit per share from continuing operations (9,622 ) 103,367 122,090 Effect of dilutive potential ordinary share - - - (Loss) profit for the purposes of diluted (loss) profit per share from continuing operations (9,622 ) 103,367 122,090 US$ US$ US$ Basic (loss) profit per share (0.49 ) 5.45 6.38 Diluted (loss) profit per share (0.49 ) 5.45 6.10 From discontinued operation 2023 2022 2021 US$ US$ US$ Basic loss - - (0.17 ) Diluted loss - - (0.16 )

DIVIDENDS

DIVIDENDS	12 Months Ended
	Dec. 31, 2023
Disclosure of dividends [Abstract]
DIVIDENDS	39 DIVIDENDS 2023 2022 2021 US$’000 US$’000 US$’000 Amounts recognised as distributions to equity holders in the year Interim dividend paid 17 March (2022: 22 March and 2021: 13 December) 585 13,650 13,546 Interim dividend paid 19 June (2022: 20 June) 584 8,910 - Interim dividend paid 19 September - 15,957 - Interim dividend paid 1 December - 97,360 - 1,169 135,877 13,546 US$ US$ US$ Interim dividend per share - paid 17 March (2022: 22 March and 2021:13 December) 0.03 0.72 0.72 Interim dividend per share - paid 19 June (2022: 20 June) 0.03 0.47 - Interim dividend per share - paid 19 September - 0.84 - Interim dividend per share - paid 1 December - 5.00 -

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2023
Commitments [Abstract]
COMMITMENTS	40 COMMITMENTS The Group has entered into drydock and ballast water treatment contracts for some of its ships during the year. The Group has also entered into a contract for the purchase of a ship under construction. In terms of the agreements, the Group has committed to payments for these ships. The following has been authorised: 2023 2022 US$’000 US$’000 Due within one year 17,869 1,399 The expenditure will be financed out of cash resources from operations and bank loans.

EVENTS AFTER THE REPORTING PERI

EVENTS AFTER THE REPORTING PERIOD	12 Months Ended
	Dec. 31, 2023
Events after reporting date [Abstract]
EVENTS AFTER THE REPORTING PERIOD	41 EVENTS AFTER THE REPORTING PERIOD a) On 17 January 2024, the ship IVS Kingbird b) On 6 February 2024, the ship HB Imabari c) On 23 February 2024, the ship IVS Ibis delivered to her new owners on 26 March 2024. d) On 29 February 2024, Grindrod Shipping, as parent guarantor and GSPL as borrower entered into a US$ 83,000,000 e) On 11 March 2024, we entered into a contract to sell the ship, IVS Naruo IVS Naruo

MATERIAL ACCOUNTING POLICIES (P

MATERIAL ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Material Accounting Policies [Abstract]
Basis of accounting	2.1 Basis of accounting The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS Accounting Standards”) issued by the International Accounting Standards Board (“IASB”). The accounting policies adopted are set out below.
Application of new and revised IFRS Accounting Standards	2.2 Application of new and revised IFRS Accounting Standards From 1 January 2023, the Group has applied a number of amendments to IFRS Accounting Standards that are mandatorily effective for an accounting period that begins on or after 1 January 2023. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements except as below. Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements—Disclosure of Accounting Policies The Group have
New and revised International Financial Reporting Standards (IFRSs) in issue but not yet effective	2.3 New and revised IFRS Accounting Standards in issue but not yet effective The Group has not applied the following new and revised IFRSs that are relevant to the Group that were issued but are not yet effective: Amendments to IAS 1 Classification of liabilities as Current or Non-current Amendments to IAS 1 Non-current Liabilities with Covenants The directors do not expect that the adoption of the Standards listed above will have a material impact on the financial statements of the Group in future periods.
Basis of Consolidation	2.5 Basis of Consolidation The consolidated financial statements incorporate the financial statements of the parent company parent company Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Specifically, the results of subsidiaries acquired or disposed of during the year are included in profit or loss from the date the Group gains control until the date when the Group ceases to control the subsidiary. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group’s accounting policies. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Group are eliminated on consolidation. Non-controlling interests in subsidiaries are identified separately from the Group’s equity therein. Those interests of non-controlling shareholders that are present ownership interests entitling their holders to a proportionate share of net assets upon liquidation may initially be measured at fair value or at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. The choice of measurement is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. Profit or loss and each component of other comprehensive income (loss) are attributed to the owners of the Group and to the non-controlling interests. Total comprehensive income (loss) of the subsidiaries is attributed to the owners of the Group and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance. Changes in the Group’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amount of the Group’s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to the owners of the Group.
Financial Instruments	2.6 Financial instruments Financial assets and financial liabilities are recognised on the Group’s statement of financial position when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value (except for trade receivables that do not have a significant financing component which are measured at transaction price), net of transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Financial assets Classification of financial assets The Group classifies its financial assets in the following measurement categories: · those to be measured subsequently at fair value (either through OCI or through profit or loss), and · those to be measured at amortised cost. All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value through other comprehensive income (“FVTOCI”) or fair value through profit or loss (“FVTPL”), depending on the classification of the financial assets. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. Debt instruments mainly comprise cash and bank balances, trade receivables, contract assets, other receivables and amount due from related parties that meet the following conditions are subsequently measured at amortised cost: · the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and · the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Debt instruments relating to other investments that meet the following conditions are subsequently measured at fair value through other comprehensive income (loss) (FVTOCI): · the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets; and · the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. By default, all other financial assets are subsequently measured at fair value through profit or loss (FVTPL). Impairment of financial assets The Group recognises a loss allowance for expected credit losses (“ECL”) on trade and other receivables, amounts due from joint ventures and contract assets. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument. The ECL incorporates forward-looking information and is a probability-weighted estimate of the difference between all contractual cash flows that are due to the group in accordance with the contract and all the cash flows that the group expects to receive, discounted at the original effective interest rate. Details about the group’s credit risk management and impairment policies are disclosed in Note 4 (a), 7, 8 and 9. Credit-impaired financial assets A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events: · significant financial difficulty of the issuer or the borrower; · a breach of contract, such as a default or past due event; · the lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider; · it is becoming probable that the borrower will enter bankruptcy or other financial reorganisation; or · the disappearance of an active market for that financial asset because of financial difficulties. Derecognition of financial assets The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognises its retained interest in the asset and an associated liability for amounts it may have to pay. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognise the financial asset and also recognises a collateralised borrowing for the proceeds received. Classification as debt or equity Debt and equity instruments issued by the Group are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. Equity instruments An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue cost. Repurchase of the company’s own equity instruments is recognised and deducted directly in equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the company’s own equity instruments. Financial liabilities at amortised cost Financial liabilities at amortised cost include trade and other payables, amounts due to related parties, bank loans and other borrowings. These are initially measured at fair value and subsequently measured at amortised cost, using the effective interest method, except for short-term balances when the effect of discounting is immaterial. Derecognition of financial liabilities The Group derecognises financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss. Derivative financial instruments The Group enters into freight forward agreements and bunker swaps to manage its exposure to freight rate and bunker prices respectively. Further details of derivative financial instruments are disclosed in Note 10. Derivatives are initially recognised at fair value at the date the derivative contract is entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. Group designates the derivatives as hedges of highly probable forecast transactions or hedges of foreign currency risk of firm commitments (cash flow hedges). A derivative with a positive fair value is recognised as a financial asset whereas a derivative with a negative fair value is recognised as a financial liability. Derivatives are not offset in the financial statements unless the Group has both legal right and intention to offset. A derivative is presented as a non-current asset or a non-current liability if the remaining maturity of the instruments is more than 12 months and it is not expected to be realised or settled within 12 months. Other derivatives are presented as current assets or current liabilities. Financial liabilities and equity instruments Hedge accounting The Group designates hedges of freight rate risk and bunker prices as cash flow hedges. At the inception of the hedge relationship, the entity documents the relationship between the hedging instrument and hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whether the hedging instrument is effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk, which is when the hedging relationships meet all of the following hedge effectiveness requirements: · there is an economic relationship between the hedged item and the hedging instrument; · the effect of credit risk does not dominate the value changes that result from that economic relationship; and · the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of hedged item. Cash flow hedge The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognised in OCI and accumulated under the heading of Hedging Reserve. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss as part of other operating expense or other operating income. Amounts previously recognised in OCI and accumulated in equity are reclassified to profit or loss in the periods when the hedged item is recognised in profit or loss in the same line of the statement of profit or loss and OCI as the recognised hedged item. However, when the forecast transaction that is hedged, results in the recognition of a non-financial asset or a non-financial liability, the gains and losses previously accumulated in equity are transferred from equity and included in the initial measurement of the cost of the asset or liability. This transfer does not affect OCI. Furthermore, if the Group expects that some or all of the loss accumulated in OCI will not be recovered in the future, that amount is immediately reclassified to profit or loss. The Group discontinues hedge accounting only when the hedging relationship (or a part thereof) ceases to meet the qualifying criteria (after rebalancing, if applicable). This includes instances when the hedging instrument expires or is sold, terminated or exercised. The discontinuation is accounted for prospectively. Any gain or loss recognised in OCI and accumulated in equity at that time remains in equity and is recognised when the forecast transaction is ultimately recognised in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognised immediately in profit or loss.
Offsetting Arrangements	2.7 Offsetting Arrangements Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when the Group has a legally enforceable right to set off the recognised amounts, and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. A right to set-off must be available today rather than being contingent on a future event and must be exercisable by any of the counterparties, both in the normal course of business and in the event of default, insolvency or bankruptcy.
Voyage expenses	2.8 Voyage expenses Voyage expenses that relate directly to a contract include charter hire expenses, fuel expenses and port expenses. Contract costs are deferred and amortised over the course of the voyage on a percentage completion basis that is consistent with the revenue recognition. This percentage of completion is derived from time elapsed between the tender of readiness to load a cargo or delivery of a vessel to a charterer, and the completion of discharging a cargo or redelivery of a vessel from a charterer. Contract costs are recognised as an asset if they represent incremental costs of obtaining a contract or fulfilment costs that (i) relate directly a contract or to an anticipated contract, (ii) generate or enhance resources to be used in meeting obligations under the contract and (iii) are expected to be recovered.
Vessel operating costs	2.9 Vessel operating costs Vessel operating costs primarily consists of crewing, vessel repairs and maintenance and vessel insurance costs. These costs are expensed as incurred on an accrual basis.
Foreign Currency Transactions and Translation	2.10 Foreign Currency Transactions and Translation The individual financial statements of each group entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency which is predominantly United States dollars or South African Rands). The consolidated financial statements of the Group are presented in United States Dollars and are rounded to the nearest thousands. In preparing the financial statements of the group entities, transactions in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the end of the reporting period. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group’s foreign operations (including comparatives) are expressed in United States Dollars using exchange rates prevailing at the end of the reporting period. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuated significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognised in OCI and accumulated in a separate component of equity under the header of translation reserve.

FINANCIAL INSTRUMENTS, FINANC_2

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Financial instruments financial risks and capital management [Abstract]
Disclosure of detailed information about financial instruments [text block]	2023 2022 US$’000 US$’000 Financial assets Financial assets at amortised cost 84,177 88,127 Derivative instruments designated in hedge accounting relationship 599 51 84,776 88,178 Financial liabilities Financial liabilities at amortised cost 200,197 254,863 Earn-out consideration 8,061 - Derivative instruments designated in hedge accounting relationships 732 138 208,990 255,001
Disclosure of detailed information about Assets and liabilities in functional currency [Text Block]	At the end of the reporting period, the significant carrying amounts of monetary liabilities and monetary assets denominated in currencies other than the respective Group entities’ functional currencies are as follows: Liabilities Assets 2023 2022 2023 2022 US$’000 US$’000 US$’000 US$’000 United States dollars (554 ) (554 ) 2,760 584 South African rands (173 ) (1,629 ) - -
Disclosure of detailed information about foreign currency basis spreads strengthens by 10 % in profit or loss [Text block]	Impact on profit or loss 2023 2022 US$’000 US$’000 United States dollars 221 3 South African rands (17 ) (163 )
Disclosure of detailed information maturity analysis for non-derivative financial liabilities [Text block]	Weighted average effective interest rate On demand or within 1 year Within 2 to 5 years After 5 years Adjustment Total % p.a US$’000 US$’000 US$’000 US$’000 US$’000 Group 2023 Non-interest bearing - 29,928 2,308 - - 32,236 Lease liabilities 7.89 33,459 1,437 - (1,091 ) 33,805 Variable interest rate instruments 9.44 28,570 115,041 27,913 (29,307 ) 142,217 91,957 118,786 27,913 (30,398 ) 208,258 2022 Non-interest bearing - 29,782 - - - 29,782 Lease liabilities 6.47 22,903 4,177 - (967 ) 26,113 Variable interest rate instruments 8.16 45,254 161,350 33,909 (41,545 ) 198,968 97,939 165,527 33,909 (42,512 ) 254,863
Disclosure of detailed information maturity analysis for derivative financial liabilities [Text Block]	On demand or within 1 year Within 2 to 5 years Adjustment Total US$’000 US$’000 US$’000 US$’000 Group 2023 Gross settled: Forward freight agreements Gross inflow 20 422 - 442 Gross outflow (586 ) - - (586 ) (566 ) 422 - (144 ) Bunker swaps Gross inflow 156 1 - 157 Gross outflow (125 ) (20 ) - (145 ) 31 (19 ) - 12 (535 ) 403 - (132 ) 2022 Gross settled: Bunker swaps Gross inflow 51 - - 51 Gross outflow (138 ) - - (138 ) (87 ) - - (87 )
Disclosure of detailed information about financial instruments measured at fair value on recuring basis [Text block]	2023 2022 US$’000 US$’000 Financial Assets Forward freight agreements 442 - Bunker swaps 157 51 Financial Liabilities Forward freight agreements (587 ) - Earn-out consideration (8,061 ) - Bunker swaps (145 ) (138 )
Disclosure of detailed information significant unobservable inputs used in fair value measurement of assets [Text Block]	Level 1 Level 2 Level 3 Total US$’000 US$’000 US$’000 US$’000 2023 Financial Assets Derivative financial instruments - 599 - 599 Financial Liabilities Derivative financial instruments - (732 ) - (732 ) Earn-out consideration - - (8,061 ) (8,061 ) 2022 Financial Assets Derivative financial instruments - 51 - 51 Financial Liabilities Derivative financial instruments - (138 ) - (138 )

HOLDING COMPANY, RELATED COMP_2

HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of transactions between related parties [abstract]
Disclosure of transactions between related parties [text block]	(i) Group companies and other related parties Related companies in these financial statements refer to members of the TMI group that are not members of the Group (“Group companies”) and other related parties comprise of companies that are controlled by key management person n The balances are unsecured, interest-free and repayable on demand unless otherwise stated: 2023 2022 US$’000 US$’000 Due from group companies 15 - Due from other 12 - Due from related parties 27 - Due to group companies 168 - Due to joint ventures 39 43 Due to other 181 - Due to related parties 388 43 During the year ended December 31, 2023 Group companies Other Group companies Other Group companies Other 2023 2023 2022 2022 2021 2021 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Charter hire expenses (6,486 ) (628 ) - - - - Freight expenses (839 ) (2 ) - - - - Management fees expenses - (31 ) - - - - Management fees 1,960 - - - - - Lease income (Note 31) 77 268 - - - - Ship cost of sale - (90 ) - - - - Acquisition of ship and asset under construction (a) (31,875 ) - - - - - Acquisition of subsidiaries from a related party of TMI is included in Note 37. These related party transactions occurred under terms that are no more or less favourable than those arranged with third parties. (a) During the year, the Group acquired a ship and a contract for a ship under construction from subsidiaries of TMI. The acquisition was at an agreed price consistent with independent broker valuations obtained in connection with the transactions and were unanimously approved by the disinterested members of the Board of Directors.
Disclosure of detailed information about transactions between related parties [Text Block]	(ii) Compensation of directors and key management personnel The remuneration of the directors and other members of key management is set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures 2023 2022 2021 US$’000 US$’000 US$’000 Short-term benefits 4,340 7,954 9,200 Share-based payments - 5,108 1,479 4,340 13,062 10,679

CASH AND BANK BALANCES INCLUD_2

CASH AND BANK BALANCES INCLUDING RESTRICTED CASH (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of cash and cash equivalents [Abstract]
Disclosure of detailed information about cash and bank balances [Text Block]	2023 2022 US$’000 US$’000 Restricted cash, current portion 4,102 5,667 Cash on hand 376 494 Cash at bank 54,853 46,067 Cash and bank balances 59,331 52,228 Less: Restricted cash, current portion (4,102 ) (5,667 ) Cash and cash equivalents in the statements of cash flows 55,229 46,561 Restricted cash Classified as: Current 4,102 5,667 Non-current 4,560 4,342 8,662 10,009

TRADE RECEIVABLES (Tables)

TRADE RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Trade And Other Receivables [Abstract]
Disclosure Of Detailed Information About Allowance For Doubtful Debts On Trade Receivables [Table Text Block]	2023 2022 US$’000 US$’000 Trade receivables 7,357 11,950 Less: Allowances for doubtful debts (655 ) (660 ) 6,702 11,290
Disclosure Of Detailed Information About Trade Receivables [Table Text Block]	Trade receivables past due – collectively assessed 2023 Not past due <30 31-60 61-90 91-120 >120 Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Estimated total gross carrying amount at default, representing net carrying amount of default 5,288 465 225 367 127 230 6,702 Trade receivables past due – collectively assessed 2022 Not past due <30 31-60 61-90 91-120 >120 Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Estimated total gross carrying amount at default, representing net carrying amount of default 8,493 1,237 68 509 241 742 11,290
Disclosure Of Detailed Information About Assessment Of Recoverability Of Outstanding Balances [Table Text Block]	2023 2022 US$’000 US$’000 Gross carrying amount 655 660 Less: Loss allowances (655 ) (660 ) Carrying amount net of allowance - -
Disclosure Of Detailed Information About Movement In Loss Allowances [Table Text Block]	Movement in the loss allowance: 2023 2022 Individually assessed US$’000 US$’000 Balance at 1 January (660 ) (684 ) Net remeasurement of loss allowance (55 ) 16 Amount written off 5 7 Effect of foreign exchange differences 55 1 Balance at 31 December (655 ) (660 )

OTHER RECEIVABLES AND PREPAYM_2

OTHER RECEIVABLES AND PREPAYMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of Other Receivables and Prepayments [Abstract]
Disclosure of detailed information for prepayments and other receivables text block [Table Text Block]	2023 2022 US$’000 US$’000 Current Assets: Deposit 2,034 269 Prepayments 4,412 4,026 Voyages in progress 8,907 17,085 Other receivables 2,717 3,686 18,070 25,066 Non-current Assets: Prepayments 1,918 860 19,988 25,926

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]
Forward freight agreements and bunker swaps [Table Text Block]	Forward freight agreements and bunker swaps - analysed between: 2023 2022 US$’000 US$’000 Assets Current assets 176 51 Non-current assets 423 - Liabilities Current liabilities (712 ) (138 ) Non-current liabilities (20 ) -
Disclosure of Outstanding Forward Freight Agreements Maturity [Table Text Block]	The Group has entered into a number of forward freight agreements in the normal course of business in order to hedge against open positions in the fleet from contracts of affreightment and exposure to earnings on the spot market. As at 31 December 2023, there are 10 (2022: Nil) outstanding forward freight agreements, maturing as follows: 2023 Current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Duration Notional value Fair value gain US$ US$’000 US$’000 January 2024 BSI-58 ave 10TC 14,750 30 443 6 January 2024 BSI-58 ave 10TC 15,000 30 450 14 893 20 Non-current assets Derivative instruments held for trading Settlement periods Strike price Duration Notional value Fair value gain US$ US$’000 US$’000 January 2025 to December 2025 BSI-58 ave 10TC 11,250 180 2,025 212 January 2025 to December 2025 BSI-58 ave 10TC 11,250 60 675 70 January 2025 to December 2025 BSI-58 ave 10TC 11,250 120 1,350 141 4,050 423 Current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Duration Notional value Fair value gain US$ US$’000 US$’000 January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,300 60 738 (99 ) January 2024 to December 2024 BSI-58 ave 10TC 12,350 120 1,482 (191 ) 4,434 (587 )
Disclosure of Detailed Information of Number of Bunker Swaps [Table Text Block]	The Group has entered into a number of bunker swaps, as follows: 2023 Current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 January 2024 to June 2024 0.5% FOB Singapore 525.75 1,500 789 55 January 2024 to March 2024 0.5% FOB Rotterdam 522.50 1,350 705 6 January 2024 to September 2024 0.5% FOB Rotterdam 494.00 4,500 2,223 95 3,717 156 Non-current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 January 2025 to February 2025 0.5% FOB Rotterdam 470.50 400 188 1 Current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 March 2024 to April 2024 0.5% FOB Rotterdam 538.75 400 216 (8 ) June 2024 to July 2024 0.5% FOB Rotterdam 530.00 400 212 (9 ) March 2024 0.5% FOB Rotterdam 580.50 280 163 (16 ) April 2024 0.5% FOB Rotterdam 576.25 280 161 (16 ) April 2024 to December 2024 0.5% FOB Rotterdam 522.50 4,050 2,116 (75 ) October 2024 to December 2024 0.5% FOB Rotterdam 494.00 1,500 741 (1 ) 3,609 (125 ) Non-current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional Fair value US$ MT US$’000 US$’000 March 2025 to December 2025 0.5% FOB Rotterdam 470.50 2,000 941 (20 ) 2022 Current assets Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional value Fair value gain US$ MT US$’000 US$’000 January 2023 0.5% FOB Rotterdam 510.25 350 179 2 January 2023 to December 2023 0.5% FOB Rotterdam 483.50 1,920 928 31 April 2023 0.5% FOB Rotterdam 488.50 400 195 5 May 2023 0.5% FOB Singapore 529.25 250 132 2 April 2023 0.5% FOB Rotterdam 488.50 400 195 5 May 2023 0.5% FOB Singapore 529.25 250 132 2 March 2023 to May 2023 0.5% FOB Singapore 537.50 750 403 4 2,164 51 Current liabilities Derivative instruments in designated hedge accounting relationships: Settlement periods Strike price Quantity Notional value Fair value gain US$ MT US$’000 US$’000 January 2023 0.5% FOB Rotterdam 651.00 180 117 (25 ) January 2023 0.5% FOB Rotterdam 599.50 450 270 (38 ) January 2023 to February 2023 0.5% FOB Rotterdam 573.75 750 430 (47 ) February 2023 to July 2023 0.5% FOB Rotterdam 510.25 2,100 1,072 (20 ) August 2023 to December 2023 0.5% FOB Rotterdam 503.25 1,000 503 (8 ) June 2023 0.5% FOB Singapore 537.50 250 134 - 2,526 (138 )

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Inventories [Abstract]
Disclosure of detailed information about inventories text block [Text Block]	2023 2022 US$’000 US$’000 Bunkers and other consumables at cost 10,755 15,278 - - Ships reclassified from ships, property plant and equipment as held for sale asset (Note 12) (a) 141,345 28,853 Sale of ships recognised as inventories (a) (141,345 ) (28,853 ) 10,755 15,278
Disclosure of Detailed Information of Reclassification of Ships as Inventoriestext block [Text Block]	(a) Ships reclassified from ships, property, plant and equipment as inventories is reconciled as follows: 2023 2022 US$’000 US$’000 Cost 260,971 41,297 Accumulated depreciation (83,663 ) (12,444 ) Impairment (35,963 ) - Carrying amount 141,345 28,853

SHIPS, PROPERTY, PLANT AND EQ_2

SHIPS, PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Ships property plant and equipment [Abstract]
Disclosure of detailed information about property, plant and equipment [text block]	Office equipment, furniture and fittings and motor vehicles Plant and equipment Ships Drydocking Construction in progress Freehold land and buildings Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Cost: Balance at 1 January 2022 4,189 4,331 589,095 18,117 774 238 616,744 Additions 113 - 2,076 7,230 - - 9,419 Disposals (826 ) (102 ) - (3,604 ) - (232 ) (4,764 ) Transfer from right-of-use assets (Note 13) - - 23,436 - - - 23,436 Reclassification to inventories (Note 11) - (2,599 ) (38,357 ) (341 ) - - (41,297 ) Effect of foreign currency exchange differences (194 ) - - - - (6 ) (200 ) Balance at 31 December 2022 3,282 1,630 576,250 21,402 774 - 603,338 Additions 652 - 16,068 5,133 16,875 - 38,728 Disposals (941 ) (6 ) - (4,267 ) - - (5,214 ) Acquisition of subsidiaries (Note 37) 186 - - - - - 186 Transfer from right-of-use assets (Note 13) - - 44,452 - - - 44,452 Reclassification to inventories (Note 11) - (158 ) (252,646 ) (8,167 ) - - (260,971 ) Effect of foreign currency exchange differences (217 ) - - - - - (217 ) Balance at 31 December 2023 2,962 1,466 384,124 14,101 17,649 - 420,302 Office equipment, furniture and fittings and motor vehicles Plant and equipment Ships Drydocking Construction in progress Freehold land and buildings Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Accumulated depreciation: Balance at 1 January 2022 4,092 4,077 99,230 8,447 - - 115,846 Depreciation 57 129 22,822 7,547 - - 30,555 Disposals (815 ) (83 ) - (3,605 ) - - (4,503 ) Transfer from right-of-use assets (Note 13) - - 4,809 - - - 4,809 Reclassification to inventories (Note 11) - (2,599 ) (9,504 ) (341 ) - - (12,444 ) Effect of foreign currency exchange differences (188 ) - - - - - (188 ) Balance at 31 December 2022 3,146 1,524 117,357 12,048 - - 134,075 Depreciation 154 107 18,515 6,202 - - 24,978 Disposals (938 ) (7 ) - (4,267 ) - - (5,212 ) Transfer from right-of-use assets (Note 13) - - 19,703 - - - 19,703 Reclassification to inventories (Note 11) - (158 ) (79,390 ) (4,115 ) - - (83,663 ) Effect of foreign currency exchange differences (209 ) - - - - - (209 ) Balance at 31 December 2023 2,153 1,466 76,185 9,868 - - 89,672 Office equipment, furniture and fittings and motor vehicles Plant and equipment Ships Drydocking Construction in progress Freehold land and buildings Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Accumulated impairment: Balance at 1 January 2022 1 - 63,108 - 310 - 63,419 Reversal of impairment recognised in profit and loss - - (1,707 ) - - - (1,707 ) Disposal (1 ) - - - - - (1 ) Balance at 31 December 2022 - - 61,401 - 310 - 61,711 Impairment loss (reversal of impairment) recognised in profit and loss - - 2,000 - (310 ) - 1,690 Reclassification to inventories - - (35,963 ) - - - (35,963 ) Balance at 31 December 2023 - - 27,438 - - - 27,438 Carrying amount: At 31 December 2023 809 - 280,501 4,233 17,649 - 303,192 At 31 December 2022 136 106 397,492 9,354 464 - 407,552
Disclosure Of Detailed Information About Property, Plant And Equipment, Estimated Useful Lives	Depreciation is calculated using straight-line method to allocate the cost of the assets (other than ships and properties under construction), net of their residual values, over their estimated useful lives as follows: Office equipment and furniture and fittings - 3 years Plant and equipment - 3 to 5 years Motor vehicles - 5 years Ships - 15 years Drydocking - 2.5 to 5 years

RIGHT-OF-USE ASSETS (Tables)

RIGHT-OF-USE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [abstract]
Summary of group leases	The Group leases several assets including office property, residential property, ships and ship equipment which are disclosed as right-of-use assets. Office and residential property Ships Ships equipment Total US$’000 US$’000 US$’000 US$’000 Cost: Balance at 1 January 2022 2,896 95,887 476 99,259 Additions 898 48,829 39 49,766 Transfer to ships, property, plant and equipment (Note 12) - (23,436 ) - (23,436 ) Derecognition of right-of-use asset (405 ) - - (405 ) Effect of foreign currency exchange differences (48 ) - - (48 ) Balance at 31 December 2022 3,341 121,280 515 125,136 Additions 3,272 62,600 83 65,955 Transfer to ships, property, plant and equipment (Note 12) (2) - (44,452 ) - (44,452 ) Acquisition of subsidiaries (Note 37) 80 - - 80 Adjustment (1) (2,710 ) - (144 ) (2,854 ) Effect of foreign currency exchange differences 11 - - 11 Balance at 31 December 2023 3,994 139,428 454 143,876 Accumulated depreciation: Balance at 1 January 2022 2,097 63,633 218 65,948 Depreciation 889 35,547 129 36,565 Transfer to ships, property, plant and equipment (Note 12) - (4,809 ) - (4,809 ) Derecognition of right-of-use asset (405 ) - - (405 ) Effect of foreign currency exchange differences (31 ) - - (31 ) Balance at 31 December 2022 2,550 94,371 347 97,268 Depreciation 1,695 30,229 114 32,038 Transfer to ships, property, plant and equipment (Note 12) (2) - (19,703 ) - (19,703 ) Derecognition of right-of-use asset - 393 - 393 Adjustment (1) (2,708 ) - (100 ) (2,808 ) Effect of foreign currency exchange differences 8 - - 8 Balance at 31 December 2023 1,545 105,290 361 107,196 Accumulated impairment: Balance at 1 January 2022 - 844 - 844 Impairment - 985 - 985 Balance at 31 December 2022 - 1,829 - 1,829 Derecognition of right-of-use asset - (393 ) - (393 ) Balance at 31 December 2023 - 1,436 - 1,436 Carrying amount: At 31 December 2023 2,449 32,702 93 35,244 At 31 December 2022 791 25,080 168 26,039 (1) Refers to lease modification during the period. (2) Purchase option on vessel was exercised during the year.

SUBSIDIARIES (Tables)

SUBSIDIARIES (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Significant Investments In Subsidiaries Explanatory [Abstract]
Disclosure Of Detailed Information About Subsidiaries In Consolidated Financial Statements [Text Block]	Details of the Group’s subsidiaries at the end of the reporting period are as follows: Proportion of ownership Name of subsidiary Principal activity Country of incorporation 2023 % 2022 % Grindrod Shipping Pte. Ltd. Ship operating and management Singapore 100 % 100 % Grindrod Shipping (South Africa) Pty Ltd Ship operating and management South Africa 100 % 100 % Held by Grindrod Shipping Pte. Ltd IVS Bulk Owning Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk Carriers Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk 430 Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk 462 Pte. Ltd. (ii) Dormant Singapore - 100 % IVS Bulk 475 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 511 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 512 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 603 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 609 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 611 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 612 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 707 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 3708 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 3720 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 225 Pte. Ltd. (i) Ship Owning and Operating Singapore 100 % 100 % IVS Bulk Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IM Shipping Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % Island Bulk Carriers Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % Grindrod Shipping Services UK Limited To provide shipping and shipping related services United Kingdom 100 % 100 % Grindrod Shipping Services HK Limited To provide shipping and shipping related services Hong Kong 100 % 100 % IVS Bulk 5028 Pte Ltd (iv) Dormant Singapore 100 % - IVS Bulk 725 LLC (iv) Ship Owning and Operating Marshall Islands 100 % - IVS Bulk 784 Pte Ltd (iv) Dormant Singapore 100 % - IVS Bulk 784 LLC (iv) Dormant Marshall Islands 100 % - Unicorn Atlantic Pte. Ltd. Dormant Singapore 100 % 100 % Unicorn Baltic Pte. Ltd. Dormant Singapore 100 % 100 % Unicorn Ionia Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Tanker Operations (434) Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Ross Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Caspian Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Marmara Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Scotia Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Malacca Pte. Ltd. (ii) Dormant Singapore - 100 % Unicorn Bulk Carriers Ltd Dormant British Virgin Islands 100 % 100 % Unicorn Tankers International Ltd Dormant British Virgin Islands 100 % 100 % Grindrod Maritime LLC (ii) Dormant Marshall Islands - 100 % Unicorn Sun Pte. Ltd. Dormant Singapore 100 % 100 % Proportion of Country of 2023 2022 Name of subsidiary Principal activity incorporation % % Unicorn Moon Pte. Ltd. Dormant Singapore 100 % 100 % Island View Ship Management Pte. Ltd. (iv) Ship management Singapore 100 % - Taylor Maritime Management Limited (v) Ship management Marshall Islands 100 % - Held by Grindrod Shipping (South Africa) Pty Ltd Comshipco Schiffahrts Agentur GmBH Ship agents and operators Germany 100 % 100 % Kuhle Shipping (Pty) Ltd (iii) Dormant South Africa - 100 % Held by IVS Bulk Pte. Ltd. IVS Bulk 541 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 543 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 545 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 554 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 709 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 5855 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 5858 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 712 Pte. Ltd. Dormant Singapore 100 % 100 % IVS Bulk 7297 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 1345 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 3693 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % IVS Bulk 10824 Pte. Ltd. Ship Owning and Operating Singapore 100 % 100 % Held by Island View Ship Management Pte. Ltd. Tamar Ship Management Limited (v) Ship Management Hong Kong 100 % - Tamar Ship Management Pte. Ltd (v) Ship Management Singapore 100 % - Castle Marine Services Ltd (v) Ship Management Hong Kong 100 % - Held by Taylor Maritime Management Limited Taylor Maritime Pte. Ltd (v) Ship Management Singapore 100 % - Taylor Maritime (HK) Limited (v) Ship Management Hong Kong 100 % - Taylor Maritime (UK) Limited (v) Ship Management United Kingdom 100 % - (i) This company was registered in 2022. (ii) These companies were deregistered in 2023. (iii) This company was sold on 31 March 2023. (iv) These companies were registered in 2023. (v) These companies were acquired on 3 October 2023.

INTEREST IN JOINT VENTURES (Tab

INTEREST IN JOINT VENTURES (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about Joint venture [Abstract]
Disclosure Of Detailed Information About joint ventures [Text Block]	2023 2022 US$’000 US$’000 Cost of investment in joint ventures 9 9 Share of post acquisition (loss) profit, net of dividends received (1 ) (1 ) Carrying amount 8 8
Disclosure Of Detailed Information About interest in joint ventures [Text Block]	Details of the joint ventures are as follows: Name of the joint venture Principal activity Country of incorporation Proportion of ownership interest and voting power held by the Group Cost of investment in joint ventures 2023 2022 2023 2022 Tri-View Shipping Pte Ltd (a) Dormant Singapore 51 % 51 % 9 9 * Amount is less than US$1,000. (a) The Group has joint control over this entity by virtue of the contractual arrangement with its joint venture partner(s) requiring resolutions on the relevant activities to be passed based on unanimous approval. This entity was deregistered on 19 January 2024.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
INTANGIBLE ASSETS [Abstract]
Disclosure of detailed information about intangible assets [text block]	Memberships Software and licenses Contractual customer relationships Carbon Credits Total US$’000 US$’000 US$’000 US$’000 US$’000 Cost: Opening balance as at 1 January 2022 29 2,000 - - 2,029 Additions - 126 - - 126 Derecognition of intangible asset - (1,173 ) - - (1,173 ) Effects of foreign currency exchange differences - (89 ) - - (89 ) Balance at 31 December 2022 29 864 - - 893 Additions - 84 - 128 212 Derecognition of intangible asset - (207 ) - - (207 ) Acquisition of subsidiaries (Note 37) - 212 4,948 - 5,160 Effects of foreign currency exchange differences - (71 ) - - (71 ) Balance at 31 December 2023 29 882 4,948 128 5,987 Accumulated amortisation: Opening balance as at 1 January 2022 - 1,802 - - 1,802 Amortisation - 155 - - 155 Derecognition of intangible asset - (1,173 ) - - (1,173 ) Effects of foreign currency exchange differences - (77 ) - - (77 ) Balance at 31 December 2022 - 707 - - 707 Amortisation - 170 469 - 639 Derecognition of intangible asset - (206 ) - - (206 ) Effects of foreign currency exchange differences - (60 ) - - (60 ) Balance at 31 December 2023 - 611 469 - 1,080 At 31 December 2023 29 271 4,479 128 4,907 At 31 December 2022 29 157 - - 186

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2023
GOODWILL [Abstract]
Disclosure of detailed information about goodwill [Table Text Block]	2023 2022 US$’000 US$’000 Cost: Balance at 1 January 3,292 3,305 Acquisition of subsidiaries (Note 37) 7,924 - Effects of foreign currency exchange differences (18 ) (13 ) Balance at 31 December 11,198 3,292 Accumulated impairment losses: Balance at 1 January 3,292 3,305 Effects of foreign currency exchange differences (18 ) (13 ) Balance at 31 December 3,274 3,292 Carrying amount: At 31 December 7,924 -
Disclosure of detailed information about cost of goodwill [Table Text Block]	Goodwill acquired in a business combination is allocated, at acquisition, to the CGUs that are expected to benefit from that business combination. Before recognition of impairment losses, the cost of goodwill had been allocated as follows: 2023 2022 US$’000 US$’000 Cost: Island Trading and Shipping 3,089 3,089 Parcel Service 185 203 Taylor Maritime Management Limited 4,470 - Tamar Ship Management Limited 3,454 - 11,198 3,292

OTHER INVESTMENTS (Tables)

OTHER INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Other Investments [Abstract]
Disclosure of amounts recognised in the annual financial statements	The amounts recognised in the consolidated annual financial statements in this respect are as follows: 2023 2022 US$’000 US$’000 Recognised asset at 1 January 3,714 3,730 Interest income 434 442 Recognised in other comprehensive income in the current year (220 ) (207 ) Translation (315 ) (251 ) Present value of other investment at 31 December 3,613 3,714 The principal actuarial assumptions applied in the determination of fair values include: Discount rate (p.a.) 12.7 % 12.2 %

DEFERRED TAX (Tables)

DEFERRED TAX (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of deferred taxes [Abstract]
Disclosure of detailed information about deferred tax liabilities and assets [Text Block]	2023 2022 US$’000 US$’000 Deferred taxation analysed by major category: Other timing differences 258 1,304 258 1,304 Reconciliation of deferred taxation: Opening balance 1,304 2,123 Credit to profit or loss for the year (Note 35) (107 ) (665 ) Acquisition of subsidiary (Note 37) (841 ) - Credit (charge) to other comprehensive income arising from actuarial gain 10 (45 ) Exchange differences (108 ) (109 ) Closing balance 258 1,304 Comprising: Deferred tax assets 1,019 1,304 Deferred tax liabilities (761 ) - 258 1,304

TRADE AND OTHER PAYABLES (Tabl

TRADE AND OTHER PAYABLES (Tables)	12 Months Ended
	Dec. 31, 2023
Trade and other payables [abstract]
Disclosure of detailed information about trade and other payable [Table Text Block]	2023 2022 US$’000 US$’000 Trade payables 8,520 10,035 Accrued expenses 15,017 19,250 Earn-out consideration (Note 37) 8,061 - Other 250 454 31,848 29,739 Non-current trade and other payables (1,153 ) (140 ) Current trade and other payables 30,695 29,599

LEASES AND SHIP CHARTERS (Table

LEASES AND SHIP CHARTERS (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of leases [Abstract]
Disclosure of maturity analysis of operating lease payments [text block]	Maturity analysis of operating lease payments: 2023 2022 US$’000 US$’000 Year 1 5,915 - Total 5,915 -

LEASE LIABILITIES (Table)

LEASE LIABILITIES (Table)	12 Months Ended
	Dec. 31, 2023
Lease liabilities [abstract]
Disclosure Of Detailed Information About Movement In Lease Liabilities	Office and residential property Ships Ships equipment Total US$’000 US$’000 US$’000 US$’000 Balance at 1 January 2022 818 32,194 259 33,271 Additions 898 48,829 39 49,766 Interest expense 37 1,370 7 1,414 Lease payments (905 ) (57,304 ) (135 ) (58,344 ) - Principal (868 ) (37,934 ) (128 ) (38,930 ) - Purchase option payments (1) - (18,000 ) - (18,000 ) - Interest expense (37 ) (1,370 ) (7 ) (1,414 ) Effect of foreign currency exchange differences 6 - - 6 Lease liabilities as at 31 December 2022 854 25,089 170 26,113 Additions (2) 3,310 62,600 83 65,993 Disposals (66 ) - (44 ) (110 ) Acquisition of subsidiary (Note 37) 80 - - 80 Interest expense 199 2,132 3 2,334 Lease payments (1,824 ) (58,667 ) (119 ) (60,610 ) - Principal (1,625 ) (32,055 ) (116 ) (33,796 ) - Purchase option payments (1) - (24,480 ) - (24,480 ) - Interest (199 ) (2,132 ) (3 ) (2,334 ) Effect of foreign currency exchange differences 5 - - 5 Lease liabilities as at 31 December 2023 2,558 31,154 93 33,805 (1) Principal repayment and purchase option payment are included in principal repayments of lease liabilities as disclosed under financing activities in the statement of cash flows. (2) Includes a Japanese Yen denominated committed purchase option to be exercised in 2024. This has been converted at a rate of 142 in terms of a forward exchange contract.
Disclosure Of Detailed Information About Lease Liabilities	2023 2022 US$’000 US$’000 Analysed between: Current portion 32,432 22,058 Non-current portion 1,373 4,055 33,805 26,113

BANK LOANS AND OTHER BORROWIN_2

BANK LOANS AND OTHER BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2023
Secured loan [Abstract]
Schedule Of Long Term Borrowings [Table Text Block]	2023 2022 US$’000 US$’000 Secured – at amortised cost: Bank loans 95,319 148,002 Other borrowings 46,898 50,966 142,217 198,968 Analysed between: Current 18,578 33,330 Non-current portion 123,639 165,638 142,217 198,968 Interest payable (included in bank loans) 1,102 1,752 Non-current bank loans and other borrowings are estimated to be payable as follows: Within 2 to 5 years 101,555 138,809 After 5 years 22,084 26,829 123,639 165,638

PROVISIONS (Tables)

PROVISIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Provision for onerous contracts [Abstract]
Disclosure of detailed information about provision for onerous contract [Text Block]	2023 2022 US$’000 US$’000 Provision for onerous contracts (i) 277 592 277 592 (i)
Disclosure of detailed information about analysis of provision for onerous contract Text block [Text Block]	2023 2022 Analysis of provision for onerous contracts: US$’000 US$’000 Balance at 1 January 592 1,019 Provision raised 277 592 Released to profit or loss (592 ) (1,019 ) Balance at 31 December 277 592

RETIREMENT BENEFIT OBLIGATION (

RETIREMENT BENEFIT OBLIGATION (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of employee benefits [Abstract]
Disclosure of net defined benefit liability (asset) [text block]	The amounts recognised in the annual financial statements in this respect are as follows: 2023 2022 US$’000 US$’000 Recognised liability at beginning of the year 1,397 1,613 Recognised in profit or loss in the current year 146 159 Interest on obligation 146 159 Recognised in other comprehensive income in the current year Actuarial loss (gain) 16 (156 ) Translation (118 ) (101 ) Employer payments (122 ) (118 ) Present value of unfunded obligation recognised as a liability at end of year 1,319 1,397 Analysis between: Current portion 125 125 Non-current portion 1,194 1,272 1,319 1,397 The principal actuarial assumptions applied in the determination of fair values include: Health care cost inflation 7.8 % 7.8 % Discount rate 12.0 % 11.9 % CPI inflation 6.3 % 6.3 % Continuation at retirement 100.0 % 100.0 %
Schedule of principal actuarial assumptions used [text block]	2023 2022 Increase Increase (Decrease) (Decrease) Health care cost inflation 7.8 % (6.9 ) 8.5 % (7.5 ) Discount rate (7.0 ) 8.0 % 8.1 % (7.1 )
Disclosure of sensitivity analysis for actuarial assumptions [text block]	There was no change in the methods and assumptions used in preparing the sensitivity analysis from the prior year. The average duration of the benefit obligation as at 31 December 2023 is 9 years (31 December 2022: 9 years and 2021: 10 years). 2023 2022 US$’000 US$’000 Present value of unfunded obligations 1,319 1,397 Present Value of obligations in excess of plan assets 1,319 1,397

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2023
Changes in equity [abstract]
Disclosure of detailed information about share capital and share premium [Table Text Block]	Number of shares Share capital US$’000 Issued and paid up: At 1 January 2021 19,063,833 320,683 Issued during the year 246,191 - At 31 December 2021 19,310,024 320,683 Issued during the year 161,984 - At 31 December 2022 19,472,008 320,683 Issued during the year 213,582 1,950 Distribution to shareholders - (32,440 ) At 31 December 2023 19,685,590 290,193

OTHER EQUITY AND RESERVES (Tabl

OTHER EQUITY AND RESERVES (Tables)	12 Months Ended
	Dec. 31, 2023
Other Equity And Reserves [Abstract]
Disclosure Of Detailed Information About Other Reserves [Table Text Block]	2023 2022 US$’000 US$’000 Hedging reserve (554 ) (1,337 ) Translation reserve (11,305 ) (10,700 ) Merger reserve (12,649 ) (12,649 ) At 31 December 2023 (24,508 ) (24,686 )
Disclosure Of Treasury Shares Explanatory [Table Text Block]	Treasury shares Number of shares Share capital US$’000 Balance at 1 January 2022 825,163 11,870 Reissued to Offeror under the TMI Offer (825,163 ) (11,870 ) Balance at 31 December 2022 - -
Disclosure Of Detailed Information About Share Option Reserves [Table Text Block]	Share compensation reserve 2023 2022 US$’000 US$’000 Balance at 1 January - 4,777 Share-based payments expenses - 8,134 Treasury shares issued to employees under the Forfeitable Share Plan - (12,911 ) Balance at 31 December - -
Disclosure of detailed information about share awards outstanding [Table Text Block]	Details of the share awards outstanding during the year are as follows: Number of share awards: 2018 2020 2021 2022 Total Outstanding at 1 January 2022 220,668 124,500 516,000 - 861,168 Issued during the year - - - 232,646 232,646 Forfeited during the year - - (106,667 ) - (106,667 ) Awards vested to employees under the Forfeitable Share Plan (220,668 ) (80,500 ) (171,996 ) (38,468 ) (511,632 ) Awards vested to employees under TMI Offer - (44,000 ) (237,337 ) (194,178 ) (475,515 ) Outstanding at 31 December 2022 - - - - - US$ US$ US$ US$ Fair value at grant date 10.18 2.90 11.85 25.58

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue [abstract]
Disclosure of Detailed Information About Timing Of Revenue [Table Text Block]	A disaggregation of the Group’s revenue for the year based on timing of revenue recognition is as follows: 2023 2022 2021 US$’000 US$’000 US$’000 Over time: Charter hire 82,511 193,631 210,079 Freight revenue 143,535 236,327 245,179 Vessel revenue 226,046 429,958 455,258 Management fees 2,945 521 581 Other 2,945 521 581 At a point in time: Sale of ships 153,668 29,600 - Sale of bunkers and other consumables 4,437 381 - Ship sales 158,105 29,981 - 387,096 460,460 455,839

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of segments abstract [Abstract]
Disclosure of operating segments [text block]	The following is an analysis of the Group’s revenue, results and additions and impairments to non-current assets by segment 2023 Drybulk Carrier Business Other Total Unallocated Total Adjustments Total Handysize Supramax/ Ultramax Total US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Vessel revenue 87,918 138,128 - 226,046 - 226,046 - 226,046 Ship sale revenue 63,760 94,345 - 158,105 - 158,105 - 158,105 Other 90 27 2,828 2,945 - 2,945 - 2,945 Total revenue 151,768 232,500 2,828 387,096 - 387,096 - 387,096 Voyage expenses (25,355 ) (49,259 ) - (74,614 ) - (74,614 ) - (74,614 ) Vessel operating costs (28,788 ) (16,921 ) 2,708 (43,001 ) - (43,001 ) - (43,001 ) Charter hire costs (13,334 ) (13,618 ) - (26,952 ) - (26,952 ) - (26,952 ) Depreciation of ships, drydocking and plant and equipment– owned assets (14,076 ) (10,748 ) - (24,824 ) - (24,824 ) - (24,824 ) Depreciation of ships and ship equipment – right-of-use assets (14 ) (30,329 ) - (30,343 ) - (30,343 ) - (30,343 ) Cost of ship sale (60,582 ) (87,168 ) 310 (147,440 ) - (147,440 ) - (147,440 ) Other (373 ) (182 ) - (555 ) - (555 ) - (555 ) Costs of sales (142,522 ) (208,225 ) 3,018 (347,728 ) - (347,728 ) - (347,728 ) Gross profit 9,246 24,275 5,846 39,368 - 39,368 - 39,368 Operating (loss) profit (2,035 ) 14,550 (117 ) 12,398 (7,036 ) 5,362 - 5,362 Interest income 1,373 1,413 6 2,792 6 2,798 - 2,798 Interest expense (6,416 ) (10,682 ) (1 ) (17,099 ) - (17,099 ) - (17,099 ) Income tax (expense) benefit (192 ) (203 ) 9 (386 ) (297 ) (683 ) - (683 ) (Loss) profit for the period (7,270 ) 5,078 (103 ) (2,295 ) (7,327 ) (9,622 ) - (9,622 ) (Reversal of) impairment loss on ships and assets under construction 1,849 (159 ) - 1,690 - 1,690 - 1,690 Capital expenditure 37,472 837 419 38,728 - 38,728 - 38,728 2022 Drybulk Carrier Business Others Total Unallocated Total Adjustments Total Handysize Supramax/ Ultramax US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Vessel revenue 159,524 268,352 2,082 429,958 - 429,958 - 429,958 Ship sale revenue - - 29,981 29,981 - 29,981 - 29,981 Other 410 111 - 521 - 521 - 521 Total revenue 159,934 268,463 32,063 460,460 - 460,460 - 460,460 Voyage expenses (30,683 ) (60,420 ) (1 ) (91,104 ) - (91,104 ) - (91,104 ) Vessel operating costs (31,625 ) (18,249 ) 2,973 (46,901 ) - (46,901 ) - (46,901 ) Charter hire costs (12,126 ) (46,800 ) - (58,926 ) - (58,926 ) - (58,926 ) Depreciation of ships, drydocking and plant and equipment– owned assets (17,946 ) (11,791 ) (761 ) (30,498 ) - (30,498 ) - (30,498 ) Depreciation of ships and ship equipment – right-of-use assets (14 ) (35,662 ) - (35,676 ) - (35,676 ) - (35,676 ) Cost of ship sale - - (29,897 ) (29,897 ) - (29,897 ) - (29,897 ) Other (1,024 ) 334 (6 ) (696 ) - (696 ) - (696 ) Costs of sales (93,418 ) (172,588 ) (27,692 ) (293,698 ) - (293,698 ) - (293,698 ) Gross profit 66,516 95,875 4,371 166,762 - 166,762 - 166,762 Operating profit 54,904 76,546 2,200 133,650 (14,621 ) 119,029 5 119,034 Interest income 881 1,085 161 2,127 101 2,228 - 2,228 Interest expense (7,847 ) (8,075 ) (1,211 ) (17,133 ) - (17,133 ) - (17,133 ) Share of losses of joint ventures - - - - - - (5 ) (5 ) Income tax benefit (308 ) (426 ) (23 ) (757 ) - (757 ) - (757 ) Profit for the period 47,630 69,130 1,127 117,887 (14,520 ) 103,367 - 103,367 Reversal of impairment loss recognised on ships (1,707 ) - - (1,707 ) - (1,707 ) - (1,707 ) Impairment loss on right-of-use asset - 985 - 985 - 985 - 985 Capital expenditure 5,529 3,812 78 9,419 - 9,419 - 9,419 2021 Drybulk Carrier Business Others Total Unallocated Total Adjustments Total Handysize Supramax/ Ultramax US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 Vessel revenue 157,707 292,179 5,372 455,258 - 455,258 - 455,258 Ship sale revenue - - - - - - - - Other 503 78 - 581 - 581 - 581 Total revenue 158,210 292,257 5,372 455,839 - 455,839 - 455,839 Voyage expenses (27,235 ) (69,600 ) (129 ) (96,964 ) - (96,964 ) - (96,964 ) Vessel operating costs (31,043 ) (15,811 ) 2,896 (43,958 ) - (43,958 ) - (43,958 ) Charter hire costs (11,755 ) (63,626 ) - (75,381 ) - (75,381 ) - (75,381 ) Depreciation of ships, drydocking and plant and equipment– owned assets (13,724 ) (10,474 ) (1,668 ) (25,866 ) - (25,866 ) - (25,866 ) Depreciation of ships and ship equipment – right-of-use assets (17 ) (34,881 ) - (34,898 ) - (34,898 ) - (34,898 ) Cost of ship sale - - - - - - - - Other (457 ) (1,419 ) 1 (1,875 ) - (1,875 ) - (1,875 ) Costs of sales (84,231 ) (195,811 ) 1,100 (278,942 ) - (278,942 ) - (278,942 ) Gross profit 73,979 96,446 6,472 176,897 - 176,897 - 176,897 Operating profit 65,612 78,777 3,616 148,005 (3,379 ) 144,626 31 144,657 Interest income 7 11 163 181 20 201 - 201 Interest expense (4,873 ) (6,376 ) (1,049 ) (12,298 ) - (12,298 ) - (12,298 ) Share of losses of joint ventures - - - - - - (31 ) (31 ) Income tax benefit 3 11 104 118 - 118 - 118 Profit for the period 60,749 72,423 2,834 136,006 (3,359 ) 132,647 - 132,647 Reversal of impairment loss on owned ships (3,557 ) - - (3,557 ) - (3,557 ) - (3,557 ) Reversal of impairment loss on right-of-use assets - (1,046 ) - (1,046 ) - (1,046 ) - (1,046 ) Impairment loss on disposal group - - - 2,551 - 2,551 - 2,551 Impairment of goodwill and intangibles 94 871 - 965 - 965 - 965 Capital expenditure 5,947 26,423 1,134 33,504 - 33,504 - 33,504

OTHER OPERATING (EXPENSE) INC_2

OTHER OPERATING (EXPENSE) INCOME (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of other operating income expense [Abstract]
Disclosure of detailed information for other operating expenses income [Text Block]	2023 2022 2021 US$’000 US$’000 US$’000 (Impairment loss) reversal of impairment recognised on ships (Note 12) (2,000 ) 1,707 3,557 (Impairment loss) reversal of impairment recognised on right-of-use assets (Note 13) - (985 ) 1,046 Impairment loss on goodwill (Note 17) - - (965 ) (Impairment loss) reversal of on financial assets (53 ) 45 (2 ) Reversal of impairment of asset under construction (Note 12) 310 - - Lease income (Note 5) 345 - - Net foreign exchange (loss) gain (237 ) (512 ) 95 Gain on disposal of plant and equipment 12 36 14 Gain on disposal of right-of-use asset 3 - 104 Other operating income 277 52 - Other operating expenses (9 ) (2 ) - (1,352 ) 341 3,849

INTEREST INCOME (Tables)

INTEREST INCOME (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of interest income [Abstract]
Disclosure of detailed information for interest income [Text Block]	2023 2022 2021 US$’000 US$’000 US$’000 Bank interests 2,363 1,776 201 Other interest 435 452 - 2,798 2,228 201

INTEREST EXPENSE (Tables)

INTEREST EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of interest expenses [Abstract]
Disclosure of detailed information for interest expense [Text Block]	2023 2022 2021 US$’000 US$’000 US$’000 Interest on bank loans 13,912 14,119 6,231 Interest on non-bank loans - - 1,808 Amortisation of upfront fees on bank loans 812 1,539 1,263 Other finance costs 41 61 1,095 Interest on lease liabilities 2,334 1,414 1,901 17,099 17,133 12,298

(LOSS) PROFIT BEFORE TAXATION (

(LOSS) PROFIT BEFORE TAXATION (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of loss before taxation [Abstract]
Disclosure of detailed information regarding adjustments to reconcile lossprofit before tax [Text Block]	(Loss) profit before taxation has been arrived at after charging: 2023 2022 2021 US$’000 US$’000 US$’000 Depreciation of ships, dry-docking and plant and equipment 24,824 30,498 25,866 Depreciation of other property, plant and equipment * 154 57 51 Amortisation of intangible assets * 638 155 165 Total depreciation and amortisation – owned assets 25,616 30,710 26,082 Depreciation of ships and ship equipment – right-of-use 30,343 35,676 34,898 Depreciation of property – right-of-use * 1,695 889 938 Total depreciation and amortisation – right-of-use assets 32,038 36,565 35,836 Total depreciation and amortisation 57,654 67,275 61,918 Cost of inventories recognised as expense (included in voyage expenses) 61,008 78,172 57,633 Expense recognised in respect of equity-settled share-based payments - 8,134 3,336 Employee benefits expenses (including directors’ remuneration and share based payments) 18,330 28,053 27,206 Cost of defined benefit plan and defined contribution plans included in employee benefits expenses 985 1,320 1,096 Tender offer and related expenses - 10,307 -

INCOME TAX EXPENSE (BENEFIT) (T

INCOME TAX EXPENSE (BENEFIT) (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of income tax [Abstract]
Disclosure of detailed information about adjustments for income tax expense [Text Block]	The corporate taxation rates payable by the South African entities in terms of the tax law in South Africa is 27% (2022 and 2021: 28%). 2023 2022 2021 US$’000 US$’000 US$’000 Current tax In respect of the current year 367 428 513 Withholding taxes 306 127 48 In respect of prior years (97 ) (463 ) (132 ) 576 92 429 Deferred tax In respect of the current year 107 665 (547 ) 107 665 (547 ) Income tax expense (benefit) 683 757 (118 )
Disclosure of detailed information about income tax reconciliation [Text Block]	The total charge (credit) for the year can be reconciled to the accounting profit (loss) as follows: 2023 2022 2021 US$’000 US$’000 US$’000 (Loss) profit before tax (8,939 ) 104,124 132,529 Income tax (benefit) expense calculated at corporate rate (1,520 ) 17,701 22,530 Adjusted for: Effect of income that is exempt from tax (7,772 ) (32,053 ) (27,890 ) Effect of expenses that are not deductible in determining taxable profit 9,506 15,025 6,204 Effect of different tax rates of subsidiaries operating in other jurisdictions 260 420 (878 ) Overprovision of current tax in prior year (97 ) (463 ) (132 ) Withholding tax 306 127 48 683 757 (118 )

DISCONTINUED OPERATION (Tables)

DISCONTINUED OPERATION (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of analysis of single amount of discontinued operations [abstract]
Disclosure of analysis of single amount of discontinued operations [text block]	The results of the discontinued operation, which were included in the profit (loss) for the year, were as follows: 2021 US$’000 Revenue 52,980 Cost of sales Voyage expenses (421 ) Vessel operating costs (1,942 ) Other expenses (61 ) Cost of ship sale (50,580 ) Gross loss (24 ) Other operating expense (2,986 ) Administrative expense (2,253 ) Share of losses of joint ventures (1 ) Interest income 35 Interest expense (649 ) Loss before taxation (5,878 ) Income tax benefit 2,713 Net loss attributable to discontinued operation (attributable to the owners of the Company) (3,165 ) Cash flows relating to the discontinued operation of the tanker business were as follows: Net cash flows from discontinued operation Cash generated from 21,902 Cash generated from investing activities 962 Cash used in financing activities (25,949 ) Included in the income tax benefit for 2021 was the reversal of a tax provision of US$2,400,000. On the 7 May 2021, the United Kingdom Upper Tribunal found in the Group’s favour with respect to the tax dispute with Her Majesty’s Revenue & Customs service of the United Kingdom (“HMRC”). HMRC decided not to appeal the decision and a reversal of the tax provision was recorded in profit or loss in the line item ‘Income tax benefit (expense)’.

ACQUISITION OF SUBSIDIARIES (Ta

ACQUISITION OF SUBSIDIARIES (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about business combination [line items]
Disclosure of net cash outflows arising on acquisition	TSM TMM Total Net cash outflows arising on acquisition of 2023 2023 2023 US$’000 US$’000 US$’000 Cash consideration (760 ) (1,487 ) (2,247 ) Less: cash and bank balances including restricted cash 1,733 2,562 4,295 Net cash received from acquisition of subsidiaries 973 1,075 2,048
TSS And TMM [Member]
Disclosure of detailed information about business combination [line items]
Disclosure of detailed information about business combination	The amounts recognised in respect of the identifiable assets acquired and liabilities assumed at the date of acquisition are set out below: TSM TMM Total 2023 2023 2023 US$’000 US$’000 US$’000 Cash and bank balances including restricted cash 1,733 2,562 4,295 Trade receivables 72 362 434 Other receivables and prepayments 371 184 555 Due from related parties - 2 2 Ships, property, plant and equipment 128 58 186 Right-of-use assets 80 - 80 Tax recoverable 67 - 67 Intangible assets 3,018 2,142 5,160 Trade and other payables (2,268 ) (880 ) (3,148 ) Deferred tax liabilities (477 ) (364 ) (841 ) Due to related parties (233 ) - (233 ) Lease liabilities (80 ) - (80 ) Income tax payable - (2,143 ) (2,143 ) Fair value of net identifiable assets acquired 2,411 1,923 4,334 Goodwill arising on acquisition (a) 3,454 4,470 7,924 Total consideration 5,865 6,393 12,258 Satisfied by: Cash 760 1,487 2,247 Equity instruments (b) 975 975 1,950 Earn-out consideration (c) 4,130 3,931 8,061 5,865 6,393 12,258 (a) The goodwill arising from the acquisition reflects the expected synergies from combining operations of the acquiree and acquirer as well as intangible assets that do not qualify for separate recognition. None of the goodwill is expected to be deductible for tax purposes. (b) The fair value of the 106,791 ordinary shares issued to sellers of acquiree as part of the purchase consideration was US$975,000 for TSM and TMM each. This was determined based on the share price on the date of acquisition. (c) The earn-out consideration is payable in shares of the Company on the first and second anniversary from acquisition completion date. The Company has an option to substitute the shares for cash. The value payable is dependent on the number of vessels under TSM and TMM’s management with a maximum of US$3,900,000. The earn-out becomes immediately payable with a 20% premium in the event of change in buyer control following which the Company’s shares will no longer be listed on the NASDAQ or the JSE. The amount payable including the 20% premium can range from US$Nil to a maximum of US$5,004,000 and US$4,277,000 for TSM and TMM respectively. The fair value was determined by applying the scenario-based method which involves the use of multiple outcomes with probability-weighing the earn-out consideration payable under each outcome.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
Profit or loss [abstract]
Description of detailed information about earnings per share	The calculation of basic and diluted earnings per share is based on the following data: From continuing operations and discontinued operation Earnings 2023 2022 2021 US$’000 US$’000 US$’000 (Loss) profit for the purpose of basic (loss) profit per share Net (loss) profit attributable to the shareholders of the Group (9,622 ) 103,367 118,925 Effect of dilutive potential on ordinary shares - - - (Loss) profit for the purposes of diluted (loss) profit per share (9,622 ) 103,367 118,925 Number of shares for the purpose of calculating basic and diluted (loss) profit per share 2023 2022 2021 Weighted average number of ordinary shares for the purpose of basic (loss) profit per share 19,524,087 18,949,972 19,150,787 Effect of dilutive potential ordinary shares due to FSP share awards - - 861,168 Weighted average number of ordinary shares for the purpose of diluted (loss) profit per share 19,524,087 18,949,972 20,011,955 US$ US$ US$ Basic (loss) profit per share (0.49 ) 5.45 6.21 Diluted (loss) profit per share (0.49 ) 5.45 5.94 The following potential ordinary shares are anti-dilutive and are therefore excluded from the weighted average number of ordinary shares for the purpose of diluted (loss) profit per share: Number of shares - - 650,333 The shares granted under the 2018 FSP became dilutive to basic (loss) profit per share in 2021.
Disclosure of earnings per share basic and diluted from continuing operations explanatory	Earnings 2023 2022 2021 US$’000 US$’000 US$’000 (Loss) profit for the purpose of basic (loss)/profit per share Net (loss) profit attributable to the shareholders of the Group (9,622 ) 103,367 118,925 Adjustments to exclude loss for the year from discontinued operation - - 3,165 (Loss) profit from continuing operations for the purpose of basic (loss) profit per share from continuing operations (9,622 ) 103,367 122,090 Effect of dilutive potential ordinary share - - - (Loss) profit for the purposes of diluted (loss) profit per share from continuing operations (9,622 ) 103,367 122,090 US$ US$ US$ Basic (loss) profit per share (0.49 ) 5.45 6.38 Diluted (loss) profit per share (0.49 ) 5.45 6.10
Disclosure of earnings per share basic and diluted from discontinuing operations explanatory	2023 2022 2021 US$ US$ US$ Basic loss - - (0.17 ) Diluted loss - - (0.16 )

DIVIDENDS (Tables)

DIVIDENDS (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of dividends [Abstract]
Schedule of dividend distributions to equity holders	2023 2022 2021 US$’000 US$’000 US$’000 Amounts recognised as distributions to equity holders in the year Interim dividend paid 17 March (2022: 22 March and 2021: 13 December) 585 13,650 13,546 Interim dividend paid 19 June (2022: 20 June) 584 8,910 - Interim dividend paid 19 September - 15,957 - Interim dividend paid 1 December - 97,360 - 1,169 135,877 13,546 US$ US$ US$ Interim dividend per share - paid 17 March (2022: 22 March and 2021:13 December) 0.03 0.72 0.72 Interim dividend per share - paid 19 June (2022: 20 June) 0.03 0.47 - Interim dividend per share - paid 19 September - 0.84 - Interim dividend per share - paid 1 December - 5.00 -

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments [Abstract]
Disclosure of detailed information about capital commitments text block [Text Block]	The following has been authorised: 2023 2022 US$’000 US$’000 Due within one year 17,869 1,399

CRITICAL ACCOUNTING JUDGEMENT_2

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Goodwill	$ 7,924,000	$ 0
impairment loss recognised	$ 0	$ 985,000	$ 1,046,000
Discount rate applied to cash flow projections	8.69%	8.56%
Cash outflow for leases	$ 27,577,000	$ 52,621,000
Reversal of impairment	$ 2,000,000	$ 1,707,000	$ 3,557,000
Ships [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Useful life measured as period of time, property, plant and equipment	15 years
Ships [member] | Bottom of range [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Useful life measured as period of time, property, plant and equipment	25 years
Ships [member] | Top of range [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Useful life measured as period of time, property, plant and equipment	30 years
Drybulk carrier [Member] | Bottom of range [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Decrease in charter rate	0%	0%
Increase in discount rate	0%	0%
Drybulk carrier [Member] | Top of range [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Decrease in charter rate	24.23%	22.57%
Increase in discount rate	76.56%	82.30%
Later than one year and not later than three years [member] | Ships [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Useful life measured as period of time, property, plant and equipment	15 years
Thereafter year [Member] | Ships [member]
Disclosure Of Changes In Accounting Estimates Explanatory [Line Items]
Useful life measured as period of time, property, plant and equipment	15 years

FINANCIAL INSTRUMENTS, FINANC_3

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets [abstract]
Financial assets	$ 84,776	$ 88,178
Disclosure of financial liabilities [abstract]
Financial liabilities	208,990	255,001
Contingent consideration [member]
Disclosure of financial liabilities [abstract]
Financial liabilities	8,061	0
Financial liabilities at amortised cost, category [member]
Disclosure of financial liabilities [abstract]
Amortised cost	200,197	254,863
Derivative instruments designated in hedge accounting relationships [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities	732	138
Financial assets at amortised cost, category [member]
Disclosure of financial assets [abstract]
Financial assets at amortised cost	84,177	88,127
Derivatives [member]
Disclosure of financial assets [abstract]
Financial assets	$ 599	$ 51

FINANCIAL INSTRUMENTS, FINANC_4

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Financial liabilities	$ 208,990	$ 255,001
Financial assets	84,776	88,178
United States dollars [Member]
Statement1 [Line Items]
Financial liabilities	(554)	(554)
Financial assets	2,760	584
South African rands [Member]
Statement1 [Line Items]
Financial liabilities	(173)	(1,629)
Financial assets	$ 0	$ 0

FINANCIAL INSTRUMENTS, FINANC_5

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
United States dollars [Member]
Statement1 [Line Items]
Impact on profit or loss in foreign currency strengthen by 10 %	$ 221	$ 3
South africa rands [Member]
Statement1 [Line Items]
Impact on profit or loss in foreign currency strengthen by 10 %	$ (17)	$ (163)

FINANCIAL INSTRUMENTS, FINANC_6

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details 5) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial liabilities at amortised cost, category [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ 208,258	$ 254,863
Lease liabilities [member]
Disclosure of maturity analysis for Non derivative financial liabilities group interest rate [Abstract]
Weighted average effective interest rate	7.89%	6.47%
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ 33,805	$ 26,113
On demand or within 1 year | Financial liabilities at amortised cost, category [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	91,957	97,939
On demand or within 1 year | Lease liabilities [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	33,459	22,903
Within 2 to 5 years | Financial liabilities at amortised cost, category [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	118,786	165,527
Within 2 to 5 years | Lease liabilities [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	1,437	4,177
After 5 years | Financial liabilities at amortised cost, category [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	27,913	33,909
After 5 years | Lease liabilities [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	0	0
Adjustment | Financial liabilities at amortised cost, category [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	(30,398)	(42,512)
Adjustment | Lease liabilities [member]
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ (1,091)	$ (967)
Non-interest bearing [Member]
Disclosure of maturity analysis for Non derivative financial liabilities group interest rate [Abstract]
Weighted average effective interest rate	0%	0%
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ 32,236	$ 29,782
Non-interest bearing [Member] | On demand or within 1 year
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	29,928	29,782
Non-interest bearing [Member] | Within 2 to 5 years
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	2,308	0
Non-interest bearing [Member] | After 5 years
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	0	0
Non-interest bearing [Member] | Adjustment
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ 0	$ 0
Variable interest rate instruments [Member]
Disclosure of maturity analysis for Non derivative financial liabilities group interest rate [Abstract]
Weighted average effective interest rate	9.44%	8.16%
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ 142,217	$ 198,968
Variable interest rate instruments [Member] | On demand or within 1 year
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	28,570	45,254
Variable interest rate instruments [Member] | Within 2 to 5 years
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	115,041	161,350
Variable interest rate instruments [Member] | After 5 years
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	27,913	33,909
Variable interest rate instruments [Member] | Adjustment
Disclosure of maturity analysis for group interest rate [Abstract]
Non-derivative financial liabilities, undiscounted cash flows	$ (29,307)	$ (41,545)

FINANCIAL INSTRUMENTS, FINANC_7

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details 6) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Gross settled:
Derivative financial liabilities, undiscounted cash flows	$ (132)
On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(535)
Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	403
Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0
Forward freight agreements one [Member]
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(144)
Forward freight agreements one [Member] | On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(566)
Forward freight agreements one [Member] | Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	422
Forward freight agreements one [Member] | Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0
Forward freight agreements one [Member] | Gross inflow [Member]
Gross settled:
Derivative financial liabilities, undiscounted cash flows	442
Forward freight agreements one [Member] | Gross inflow [Member] | On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	20
Forward freight agreements one [Member] | Gross inflow [Member] | Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	422
Forward freight agreements one [Member] | Gross inflow [Member] | Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0
Forward freight agreements one [Member] | Gross outflow [Member]
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(586)
Forward freight agreements one [Member] | Gross outflow [Member] | On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(586)
Forward freight agreements one [Member] | Gross outflow [Member] | Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0
Forward freight agreements one [Member] | Gross outflow [Member] | Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0
Forward freight agreements [Member]
Gross settled:
Derivative financial liabilities, undiscounted cash flows	12	$ (87)
Forward freight agreements [Member] | On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	31	(87)
Forward freight agreements [Member] | Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(19)	0
Forward freight agreements [Member] | Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0	0
Forward freight agreements [Member] | Gross inflow [Member]
Gross settled:
Derivative financial liabilities, undiscounted cash flows	157	51
Forward freight agreements [Member] | Gross inflow [Member] | On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	156	51
Forward freight agreements [Member] | Gross inflow [Member] | Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	1	0
Forward freight agreements [Member] | Gross inflow [Member] | Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	0	0
Forward freight agreements [Member] | Gross outflow [Member]
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(145)	(138)
Forward freight agreements [Member] | Gross outflow [Member] | On demand or within 1 year
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(125)	(138)
Forward freight agreements [Member] | Gross outflow [Member] | Within 2 to 5 years
Gross settled:
Derivative financial liabilities, undiscounted cash flows	(20)	0
Forward freight agreements [Member] | Gross outflow [Member] | Adjustment
Gross settled:
Derivative financial liabilities, undiscounted cash flows	$ 0	$ 0

FINANCIAL INSTRUMENTS, FINANC_8

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details 7) - Recurring fair value measurement [member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Forward freight agreements one [Member]
Financial Liabilities
Financial liabilities	$ (587)	$ 0
Earn Out Consideration [Member]
Financial Liabilities
Financial liabilities	(8,061)	0
Swap contract [member]
Financial Liabilities
Financial liabilities	(145)	(138)
Forward freight agreements one [Member]
Financial Assets
Financial assets	442	0
Swap contract [member]
Financial Assets
Financial assets	$ 157	$ 51

FINANCIAL INSTRUMENTS, FINANC_9

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details 8) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets
Derivative financial instruments	$ 599	$ 51
Financial liabilities
Derivative financial instruments	(732)	(138)
Earn Out Consideration	(8,061)
Level 1
Financial assets
Derivative financial instruments	0	0
Financial liabilities
Derivative financial instruments	0	0
Earn Out Consideration	0
Level 2
Financial assets
Derivative financial instruments	599	51
Financial liabilities
Derivative financial instruments	(732)	(138)
Earn Out Consideration	0
Level 3
Financial assets
Derivative financial instruments	0	0
Financial liabilities
Derivative financial instruments	0	$ 0
Earn Out Consideration	$ (8,061)

FINANCIAL INSTRUMENTS, FINAN_10

FINANCIAL INSTRUMENTS, FINANCIAL RISKS AND CAPITAL MANAGEMENT (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2023
Statement1 [Line Items]
Increase decrease in interest rate	$ 712,000	$ 997,000	$ 536,000
Increase decrease in hedging reserve in commodity price	$ 846,000	460,000	778,000
Commodity price rate	10%
Increase decrease in commodity price	$ 0	$ 0	$ 0
Percentage of reasonably possible decrease in unobservable input entity own equity instruments	10%	10%	10%
Gain or loss on earn-out consideration recognised in profit or loss	$ 0
Number of ships under the management	$ 25,000
Percentage of premium on earn out consideration	20
London Inter Bank Offered Rate LIBOR [Member]
Statement1 [Line Items]
Borrowings, interest rate				4.70%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Statement1 [Line Items]
Borrowings, interest rate	5.40%
Shipping Market Price Sensitivity [Member]
Statement1 [Line Items]
Percentage of reasonably possible increase in unobservable input entity own equity instruments	10%	10%	10%
Increase decrease in fair value measurement due to reasonably possible decrease in unobservable inputs recognized in profit or loss after tax liabilities	$ 142,000	$ 0	$ 0
Increase decrease in fair value measurement due to reasonably possible increase in unobservable inputs recognized in profit or loss after tax liabilities	142,000	0	0
Shipping Market Price Sensitivity [Member] | Reserve of gains and losses on hedging instruments that hedge investments in equity instruments [member]
Statement1 [Line Items]
Increase decrease in fair value measurments due to reasonably possible increase in unobservable input entity own equity instruments	0	0	3,671,000
Increase decrease in fair value measurments due to reasonably possible decrease in unobservable input entity own equity instruments	$ 0	$ 0	$ 3,671,000

HOLDING COMPANY, RELATED COMP_3

HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of transactions between related parties [line items]
Amounts receivable, related party transactions	$ 27	$ 0
Amounts payable, related party transactions	388	43
Parent [member]
Disclosure of transactions between related parties [line items]
Amounts receivable, related party transactions	15	0
Amounts payable, related party transactions	168	0
Join Ventures [member]
Disclosure of transactions between related parties [line items]
Amounts payable, related party transactions	39	43
Other [member]
Disclosure of transactions between related parties [line items]
Amounts receivable, related party transactions	12	0
Amounts payable, related party transactions	$ 181	$ 0

HOLDING COMPANY, RELATED COMP_4

HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Management fees	$ 2,945	$ 521	$ 581
Parent [member]
Disclosure of transactions between related parties [line items]
Charter hire expenses	(6,486)	0	0
Freight expenses	(839)	0	0
Management fees expenses	0	0	0
Management fees	1,960	0	0
Lease income (Note 31)	77	0	0
Ship cost of sale	0	0	0
Acquisition of ship and asset under construction	(31,875)	0	0
Other [member]
Disclosure of transactions between related parties [line items]
Charter hire expenses	(628)	0	0
Freight expenses	(2)	0	0
Management fees expenses	(31)	0	0
Management fees	0	0	0
Lease income (Note 31)	268	0	0
Ship cost of sale	(90)	0	0
Acquisition of ship and asset under construction	$ 0	$ 0	$ 0

HOLDING COMPANY, RELATED COMP_5

HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Short-term benefits	$ 4,340	$ 7,954	$ 9,200
Share-based payments	0	5,108	1,479
Total director's remuneration	$ 4,340	$ 13,062	$ 10,679

HOLDING COMPANY, RELATED COMP_6

HOLDING COMPANY, RELATED COMPANY AND RELATED PARTY TRANSACTIONS (Details Textual)	Dec. 19, 2022	Oct. 11, 2022
Disclosure of transactions between related parties [abstract]
Equity Method Investment Ownership Percentage		73.78%
Percentage Of Outstanding Shares	83.23%

CASH AND BANK BALANCES INCLUD_3

CASH AND BANK BALANCES INCLUDING RESTRICTED CASH (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of cash and bank balances [Line Items]
Restricted cash, current portion	$ 4,102	$ 5,667
Cash on hand	376	494
Cash at bank	54,853	46,067
Cash and bank balances	59,331	52,228
Less: Restricted cash, current portion	(4,102)	(5,667)
Cash and cash equivalents in the statements of cash flows	55,229	46,561
Restricted cash
Current and Non Current	8,662	10,009
Short Term [Member]
Restricted cash
Current	4,102	5,667
Long Term [Member]
Restricted cash
Non-current	$ 4,560	$ 4,342

TRADE RECEIVABLES (Details)

TRADE RECEIVABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Trade receivables	$ 7,357	$ 11,950
Less: Allowances for doubtful debts	(655)	(660)
Trade receivables before receivable from the pools and after allowance for credit losses	$ 6,702	$ 11,290

TRADE RECEIVABLES (Details 1)

TRADE RECEIVABLES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Current trade receivables gross	$ 6,702	$ 11,290
Financing Receivables No past Due Member [Member]
Statement1 [Line Items]
Current trade receivables gross	5,288	8,493
Financing Receivables 1 to 30 Days Past Due [Member]
Statement1 [Line Items]
Current trade receivables gross	465	1,237
Financing Receivables 31 to 60 Days Past Due [Member]
Statement1 [Line Items]
Current trade receivables gross	225	68
Financing Receivables 61 to 90 Days Past Due [Member]
Statement1 [Line Items]
Current trade receivables gross	367	509
Financing Receivables 91 To 120 Days Past Due [Member]
Statement1 [Line Items]
Current trade receivables gross	127	241
Financing Receivable Equal To Greater Than 120 Days Past Due [Member]
Statement1 [Line Items]
Current trade receivables gross	$ 230	$ 742

TRADE RECEIVABLES (Details 4)

TRADE RECEIVABLES (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Detail Of Assessment Of Recoverability Of Outstanding Balances From Impaired Debtors [Line Items]
Gross carrying amount	$ 6,702	$ 11,290
Less: Allowances for doubtful debts	(655)	(660)
Carrying amount net of allowance	6,702	11,290
Credit impaired debtors including the debtor whose invoice is in dispute [member] | Expected credit losses individually assessed [member]
Disclosure Detail Of Assessment Of Recoverability Of Outstanding Balances From Impaired Debtors [Line Items]
Gross carrying amount	655	660
Less: Allowances for doubtful debts	(655)	(660)	$ (684)
Carrying amount net of allowance	$ 0	$ 0

TRADE RECEIVABLES (Details 5)

TRADE RECEIVABLES (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure In Tabular Form Of Movement In Loss Allowances Of Credit Impaired Debtors [Line Items]
Balance at 1 January	$ (660)
Balance at 31 December	(655)	$ (660)
Expected credit losses individually assessed [member] | Credit impaired debtors including the debtor whose invoice is in dispute [member]
Disclosure In Tabular Form Of Movement In Loss Allowances Of Credit Impaired Debtors [Line Items]
Balance at 1 January	(660)	(684)
Net remeasurement of loss allowance	(55)	(16)
Amount written off	5	7
Effect of foreign exchange differences	55	1
Balance at 31 December	$ (655)	$ (660)

TRADE RECEIVABLES (Details Text

TRADE RECEIVABLES (Details Textual)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Trade And Other Receivables [Abstract]
Disclosure of Risk Profile of Trade Receivables	The expected credit loss rate is considered immaterial for trade receivables outstanding for less than 120 days. For trade receivables past due for more than 120 days, the Group would recognise a loss allowance of 100% except for the adjustment to factors that are specific to the debtors, because historical experience has indicated that these receivables are generally not recoverable.

CONTRACT ASSETS (Details Textua

CONTRACT ASSETS (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Contract Assets [Line Items]
Allowance for credit loss on contract assets	$ 655	$ 660
Contract assets period for which the same is due	30 years	30 years
Contract assets [member]
Contract Assets [Line Items]
Allowance for credit loss on contract assets	$ 0	$ 0

OTHER RECEIVABLES AND PREPAYM_3

OTHER RECEIVABLES AND PREPAYMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current:
Deposits	$ 2,034	$ 269
Prepayments	4,412	4,026
Voyages in progress	8,907	17,085
Other receivables	2,717	3,686
Other receivables and prepayments current	18,070	25,066
Non-current:
Prepayments	1,918	860
Prepayments and accrued income other than contract assets	$ 19,988	$ 25,926

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Current assets	$ 176	$ 51
Non-current assets	423	0
Liabilities
Current liabilities	(712)	(138)
Non-current liabilities	$ (20)	$ 0

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS (Details 1)	Dec. 31, 2023 USD ($) MT	Dec. 31, 2022 USD ($) MT
Current Assets
Disclosure of detailed information about hedges [abstract]
Notional value	$ 893,000
Fair value gain	20,000
Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Notional value	3,717,000	$ 2,164,000
Fair value gain	156,000	51,000
Current Liabilities
Disclosure of detailed information about hedges [abstract]
Notional value	4,434,000
Fair value gain	(587,000)
Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Notional value	3,609,000	2,526,000
Fair value gain	(125,000)	(138,000)
Non-Current Assets
Disclosure of detailed information about hedges [abstract]
Notional value	4,050,000
Fair value gain	423,000
January 2023 0.5% FOB Rottedam Strike Price 510.25 [Member] | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 510,250
Quantity | MT		350
Notional value		$ 179,000
Fair value gain		2,000
January 2023 to December 2023 Zero Point Five Percent FOB Singapore Strike Price 483.50 | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 483,500
Quantity | MT		1,920
Notional value		$ 928,000
Fair value gain		31,000
April 2023 Zero Point Five Percent FOB Rottendam Strike Price 488.50 | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 488,500
Quantity | MT		400
Notional value		$ 195,000
Fair value gain		5,000
May 2023 Zero Point Five Percent FOB Singapore Strike Price 529.25 | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 529,250
Quantity | MT		250
Notional value		$ 132,000
Fair value gain		2,000
March 2023 to May 2023 Zero Point Five Percent FOB Singapore Strike Price 537.50 | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 537,500
Quantity | MT		750
Notional value		$ 403,000
Fair value gain		4,000
January 2023 Zero Point Five Percent FOB Rottedam Strike Price 651 | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 651,000
Quantity | MT		180
Notional value		$ 117,000
Fair value gain		(25,000)
January 2023 Zero Point Five percent FOB Rottedam Strike Price 599.50 | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 599,500
Quantity | MT		450
Notional value		$ 270,000
Fair value gain		(38,000)
January 2023 to February 2023 Zero Point Five percent FOB Rottedam Strike Price 573.75 | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 573,750
Quantity | MT		750
Notional value		$ 430,000
Fair value gain		(47,000)
February 2023 to July 2023 Zero Point Five percent FOB Rottedam Strike Price 510.25 | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 510,250
Quantity | MT		2,100
Notional value		$ 1,072,000
Fair value gain		(20,000)
August 2023 to December 2023 Zero Point Five percent FOB Rottedam Strike Price 503.25 | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 503,250
Quantity | MT		1,000
Notional value		$ 503,000
Fair value gain		(8,000)
June 2023 Zero Point Five percent FOB Rottedam Strike Price 537.50 | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price		$ 537,500
Quantity | MT		250
Notional value		$ 134,000
Fair value gain		$ 0
January 2024 to June 2024 Zero Point Five Percent FOB Singapore Strike Price 525.75 [Member] | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 525,750
Quantity | MT	1,500
Notional value	$ 789,000
Fair value gain	55,000
January 2024 to March 2024 Zero Point Five Percent FOB Rotterdam Strike Price 522.50 [Member] | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 522,500
Quantity | MT	1,350
Notional value	$ 705,000
Fair value gain	6,000
January 2024 to September 2024 Zero Point Five Percent FOB Rotterdam Strike Price 494.00 [Member] | Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 494,000
Quantity | MT	4,500
Notional value	$ 2,223,000
Fair value gain	95,000
January 2025 to February 2025 Zero Point Five Percent Fob Rottendam Strike Price 470.50 [Member] | Non-Current Assets | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 470,500
Quantity | MT	400
Notional value	$ 188,000
Fair value gain	1,000
March 2024 to April 2024 Zero Point Five Percent Fob Rottendam Strike Price 538.75 [Member] | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 538,750
Quantity | MT	400
Notional value	$ 216,000
Fair value gain	(8,000)
June 2024 to July 2024 Zero Point Five Percent Fob Rottendam Strike Price 530.00 [Member] | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 530,000
Quantity | MT	400
Notional value	$ 212,000
Fair value gain	(9,000)
March 2024 Zero Point Five Percent Fob Rottendam Strike Price 580.50 [Member] | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 580,500
Quantity | MT	280
Notional value	$ 163,000
Fair value gain	(16,000)
April 2024 Zero Point Five Percent Fob Rottendam Strike Price 576.25 [Member] | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 576,250
Quantity | MT	280
Notional value	$ 161,000
Fair value gain	(16,000)
April 2024 to December 2024 Zero Point Five Percent Fob Rottendam Strike Price 522.50 [Member] | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 522,500
Quantity | MT	4,050
Notional value	$ 2,116,000
Fair value gain	(75,000)
October 2024 to December 2024 Zero Point Five Percent Fob Rottendam Strike Price 494.00 [Member] | Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 494,000
Quantity | MT	1,500
Notional value	$ 741,000
Fair value gain	(1,000)
March 2025 to December 2025 Zero Point Five Percent Fob Rottendam Strike Price 470.50 [Member] | Non-Current Liabilities | Bunker Swaps [Member]
Disclosure of detailed information about hedges [abstract]
Strike Price	$ 470,500
Quantity | MT	2,000
Notional value	$ 941,000
Fair value gain	$ (20,000)

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Derivative asset [Member]
Disclosure of detailed information about hedges [line items]
Notional value	$ 893
Fair value gain (loss)	20
Noncurrent Derivative Assets [Member]
Disclosure of detailed information about hedges [line items]
Notional value	4,050
Fair value gain (loss)	423
Derivative Liability [Member]
Disclosure of detailed information about hedges [line items]
Notional value	4,434
Fair value gain (loss)	(587)
January 2024 BSI58 ave 10TC Strike price 14,750 One [Member] | Derivative asset [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 14,750
Duration	30 years
Notional value	$ 443
Fair value gain (loss)	6
January 2024 BSI58 ave 10TC Strike price 15,000 [Member] | Derivative asset [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 15,000
Duration	30 years
Notional value	$ 450
Fair value gain (loss)	14
Jan 2025 To December 2025 BSI58 Ave 10TC Strike Price 11,250 One [Member] | Noncurrent Derivative Assets [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 11,250
Duration	180 years
Notional value	$ 2,025
Fair value gain (loss)	212
Jan 2025 To December 2025 Bsi58 Ave 10tc Strike Price 11,250 Two [Member] | Noncurrent Derivative Assets [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 11,250
Duration	60 years
Notional value	$ 675
Fair value gain (loss)	70
Jan 2025 To December 2025 Bsi58 Ave 10tc Strike Price 11,250 Three [Member] | Noncurrent Derivative Assets [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 11,250
Duration	120 years
Notional value	$ 1,350
Fair value gain (loss)	141
Jan 2024 To December 2024 BSI58 Ave 10TC Strike Price 12,300 One [Member] | Derivative Liability [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 12,300
Duration	60 years
Notional value	$ 738
Fair value gain (loss)	(99)
Jan 2024 To December 2024 Bsi58 Ave 10tc Strike Price 12,300 Two [Member] | Derivative Liability [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 12,300
Duration	60 years
Notional value	$ 738
Fair value gain (loss)	(99)
Jan 2024 To December 2024 Bsi58 Ave 10tc Strike Price 12,300 Three [Member] | Derivative Liability [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 12,300
Duration	60 years
Notional value	$ 738
Fair value gain (loss)	(99)
Jan 2024 To December 2024 Bsi58 Ave 10tc Strike Price 11,250 Four [Member] | Derivative Liability [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 12,300
Duration	60 years
Notional value	$ 738
Fair value gain (loss)	(99)
Jan 2024 To December 2024 Bsi58 Ave 10tc Strike Price 12,350 [Member] | Derivative Liability [Member]
Disclosure of detailed information about hedges [line items]
Strike price	$ 12,350
Duration	120 years
Notional value	$ 1,482
Fair value gain (loss)	$ (191)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Bunkers and other consumables at cost	$ 10,755	$ 15,278
Ships recognised as inventories	0	0
Ships reclassified from ships, property plant and equipment as held for sale asset (Note 12)	141,345	28,853
Sale of ships recognised as inventories	(141,345)	(28,853)
Inventories	$ 10,755	$ 15,278

INVENTORIES (Details 1)

INVENTORIES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Reclassified Asset as Inventories	$ 141,345	$ 28,853
Accumulated depreciation [member]
Statement1 [Line Items]
Reclassified Asset as Inventories	(83,663)	(12,444)
Impairment [member]
Statement1 [Line Items]
Reclassified Asset as Inventories	(35,963)	0
Cost [member]
Statement1 [Line Items]
Reclassified Asset as Inventories	$ 260,971	$ 41,297

INVENTORIES (Details Textual)

INVENTORIES (Details Textual) - USD ($)		12 Months Ended
	Jun. 01, 2022	Dec. 31, 2023
Disclosure Of Inventories [Abstract]
Purchase Consideration	$ 29,981,000	$ 158,105,000

SHIPS, PROPERTY, PLANT AND EQ_3

SHIPS, PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Beginning balance	$ 407,552
Ending balance	303,192	$ 407,552
Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	603,338	616,744
Additions	38,728	9,419
Disposals	(5,214)	(4,764)
Transfer from right-of-use assets	44,452	23,436
Acquisition of subsidiary	186
Reclassification to inventories	(260,971)	(41,297)
Effect of foreign currency exchange differences	(217)	(200)
Ending balance	420,302	603,338
Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	(134,075)	(115,846)
Depreciation	24,978	30,555
Disposals	5,212	4,503
Transfer from right-of-use assets	19,703	4,809
Reclassification to inventories	(83,663)	(12,444)
Effect of foreign currency exchange differences	(209)	(188)
Ending balance	(89,672)	(134,075)
Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	(61,711)	(63,419)
Reversal of impairment recognised in profit and loss		(1,707)
Disposals		1
Impairment loss (reversal of impairment) recognised in profit and loss	1,690
Reclassification to inventories	(35,963)
Ending balance	(27,438)	(61,711)
Office equipment, furniture and fittings and motor vehicles [member]
Statement1 [Line Items]
Beginning balance	136
Ending balance	809	136
Office equipment, furniture and fittings and motor vehicles [member] | Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	3,282	4,189
Additions	652	113
Disposals	(941)	(826)
Transfer from right-of-use assets	0	0
Acquisition of subsidiary	186
Reclassification to inventories	0	0
Effect of foreign currency exchange differences	(217)	(194)
Ending balance	2,962	3,282
Office equipment, furniture and fittings and motor vehicles [member] | Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	(3,146)	(4,092)
Depreciation	154	57
Disposals	938	815
Transfer from right-of-use assets	0	0
Reclassification to inventories	0	0
Effect of foreign currency exchange differences	(209)	(188)
Ending balance	(2,153)	(3,146)
Office equipment, furniture and fittings and motor vehicles [member] | Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	0	(1)
Reversal of impairment recognised in profit and loss		0
Disposals		1
Impairment loss (reversal of impairment) recognised in profit and loss	0
Reclassification to inventories	0
Ending balance	0	0
Plant and equipment [Member]
Statement1 [Line Items]
Beginning balance	106
Ending balance	0	106
Plant and equipment [Member] | Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	1,630	4,331
Additions	0	0
Disposals	(6)	(102)
Transfer from right-of-use assets	0	0
Acquisition of subsidiary	0
Reclassification to inventories	(158)	(2,599)
Effect of foreign currency exchange differences	0	0
Ending balance	1,466	1,630
Plant and equipment [Member] | Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	(1,524)	(4,077)
Depreciation	107	129
Disposals	7	83
Transfer from right-of-use assets	0	0
Reclassification to inventories	(158)	(2,599)
Effect of foreign currency exchange differences	0	0
Ending balance	(1,466)	(1,524)
Plant and equipment [Member] | Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	0	0
Reversal of impairment recognised in profit and loss		0
Disposals		0
Impairment loss (reversal of impairment) recognised in profit and loss	0
Reclassification to inventories	0
Ending balance	0	0
Ships [member]
Statement1 [Line Items]
Beginning balance	397,492
Ending balance	280,501	397,492
Ships [member] | Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	576,250	589,095
Additions	16,068	2,076
Disposals	0	0
Transfer from right-of-use assets	44,452	23,436
Acquisition of subsidiary	0
Reclassification to inventories	(252,646)	(38,357)
Effect of foreign currency exchange differences	0	0
Ending balance	384,124	576,250
Ships [member] | Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	(117,357)	(99,230)
Depreciation	18,515	22,822
Disposals	0	0
Transfer from right-of-use assets	19,703	4,809
Reclassification to inventories	(79,390)	(9,504)
Effect of foreign currency exchange differences	0	0
Ending balance	(76,185)	(117,357)
Ships [member] | Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	(61,401)	(63,108)
Reversal of impairment recognised in profit and loss		(1,707)
Disposals		0
Impairment loss (reversal of impairment) recognised in profit and loss	2,000
Reclassification to inventories	(35,963)
Ending balance	(27,438)	(61,401)
Drydocking [Member]
Statement1 [Line Items]
Beginning balance	9,354
Ending balance	4,233	9,354
Drydocking [Member] | Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	21,402	18,117
Additions	5,133	7,230
Disposals	(4,267)	(3,604)
Transfer from right-of-use assets	0	0
Acquisition of subsidiary	0
Reclassification to inventories	(8,167)	(341)
Effect of foreign currency exchange differences	0	0
Ending balance	14,101	21,402
Drydocking [Member] | Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	(12,048)	(8,447)
Depreciation	6,202	7,547
Disposals	4,267	3,605
Transfer from right-of-use assets	0	0
Reclassification to inventories	(4,115)	(341)
Effect of foreign currency exchange differences	0	0
Ending balance	(9,868)	(12,048)
Drydocking [Member] | Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	0	0
Reversal of impairment recognised in profit and loss		0
Disposals		0
Impairment loss (reversal of impairment) recognised in profit and loss	0
Reclassification to inventories	0
Ending balance	0	0
Construction in progress [member]
Statement1 [Line Items]
Beginning balance	464
Ending balance	17,649	464
Construction in progress [member] | Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	774	774
Additions	16,875	0
Disposals	0	0
Transfer from right-of-use assets	0	0
Acquisition of subsidiary	0
Reclassification to inventories	0	0
Effect of foreign currency exchange differences	0	0
Ending balance	17,649	774
Construction in progress [member] | Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	0	0
Depreciation	0	0
Disposals	0	0
Transfer from right-of-use assets	0	0
Reclassification to inventories	0	0
Effect of foreign currency exchange differences	0	0
Ending balance	0	0
Construction in progress [member] | Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	(310)	(310)
Reversal of impairment recognised in profit and loss		0
Disposals		0
Impairment loss (reversal of impairment) recognised in profit and loss	(310)
Reclassification to inventories	0
Ending balance	0	(310)
Freehold land and buildings [Member]
Statement1 [Line Items]
Beginning balance	0
Ending balance	0	0
Freehold land and buildings [Member] | Gross carrying amount [member]
Statement1 [Line Items]
Beginning balance	0	238
Additions	0	0
Disposals	0	(232)
Transfer from right-of-use assets	0	0
Acquisition of subsidiary	0
Reclassification to inventories	0	0
Effect of foreign currency exchange differences	0	(6)
Ending balance	0	0
Freehold land and buildings [Member] | Accumulated depreciation and amortisation [member]
Statement1 [Line Items]
Beginning balance	0	0
Depreciation	0	0
Disposals	0	0
Transfer from right-of-use assets	0	0
Reclassification to inventories	0	0
Effect of foreign currency exchange differences	0	0
Ending balance	0	0
Freehold land and buildings [Member] | Accumulated impairment [member]
Statement1 [Line Items]
Beginning balance	0	0
Reversal of impairment recognised in profit and loss		0
Disposals		0
Impairment loss (reversal of impairment) recognised in profit and loss	0
Reclassification to inventories	0
Ending balance	$ 0	$ 0

SHIPS, PROPERTY, PLANT AND EQ_4

SHIPS, PROPERTY, PLANT AND EQUIPMENT (Details1)	12 Months Ended
	Dec. 31, 2023
Office equipment and furniture and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	3 years
Motor Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years
Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	15 years
Bottom of range [member] | Plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	3 years
Bottom of range [member] | Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	25 years
Bottom of range [member] | Dry docking [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	2 years 6 months
Top of range [member] | Plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years
Top of range [member] | Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	30 years
Top of range [member] | Dry docking [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	5 years

SHIPS, PROPERTY, PLANT AND EQ_5

SHIPS, PROPERTY, PLANT AND EQUIPMENT (Details textual) - Dry docking member [Member]	12 Months Ended
	Dec. 31, 2023
Bottom of range [member]
Statement1 [Line Items]
Useful life measured as period of time, property, plant and equipment	2 years 6 months
Top of range [member]
Statement1 [Line Items]
Useful life measured as period of time, property, plant and equipment	5 years

RIGHT-OF-USE ASSETS - Summary o

RIGHT-OF-USE ASSETS - Summary of group leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	$ 26,039
Ending balance	35,244	$ 26,039
Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	125,136	99,259
Additions	65,955	49,766
Transfer to ships, property, plant and equipment	(44,452)	(23,436)
Derecognition of right-of-use asset		(405)
Acquisition of subsidiaries	80
Effect of foreign currency exchange differences	11	(48)
Adjustment	(2,854)
Ending balance	143,876	125,136
Accumulated depreciation [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	97,268	65,948
Depreciation	32,038	36,565
Transfer to ships, property, plant and equipment	(19,703)	(4,809)
Derecognition of right-of-use asset	393	(405)
Effect of foreign currency exchange differences	8	(31)
Adjustment	(2,808)
Ending balance	107,196	97,268
Impairment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	1,829	844
Derecognition of right-of-use asset	(393)
Impairment loss		985
Ending balance	1,436	1,829
Office and residential property [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	791
Ending balance	2,449	791
Office and residential property [member] | Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	3,341	2,896
Additions	3,272	898
Transfer to ships, property, plant and equipment	0	0
Derecognition of right-of-use asset		(405)
Acquisition of subsidiaries	80
Effect of foreign currency exchange differences	11	(48)
Adjustment	(2,710)
Ending balance	3,994	3,341
Office and residential property [member] | Accumulated depreciation [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	2,550	2,097
Depreciation	1,695	889
Transfer to ships, property, plant and equipment	0	0
Derecognition of right-of-use asset	0	(405)
Effect of foreign currency exchange differences	8	(31)
Adjustment	(2,708)
Ending balance	1,545	2,550
Office and residential property [member] | Impairment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	0	0
Derecognition of right-of-use asset	0
Impairment loss		0
Ending balance	0	0
Ships [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	25,080
Ending balance	32,702	25,080
Ships [member] | Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	121,280	95,887
Additions	62,600	48,829
Transfer to ships, property, plant and equipment	(44,452)	(23,436)
Derecognition of right-of-use asset		0
Acquisition of subsidiaries	0
Effect of foreign currency exchange differences	0	0
Adjustment	0
Ending balance	139,428	121,280
Ships [member] | Accumulated depreciation [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	94,371	63,633
Depreciation	30,229	35,547
Transfer to ships, property, plant and equipment	(19,703)	(4,809)
Derecognition of right-of-use asset	393	0
Effect of foreign currency exchange differences	0	0
Adjustment	0
Ending balance	105,290	94,371
Ships [member] | Impairment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	1,829	844
Derecognition of right-of-use asset	(393)
Impairment loss		985
Ending balance	1,436	1,829
Ship equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	168
Ending balance	93	168
Ship equipment [member] | Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	515	476
Additions	83	39
Transfer to ships, property, plant and equipment	0	0
Derecognition of right-of-use asset		0
Acquisition of subsidiaries	0
Effect of foreign currency exchange differences	0	0
Adjustment	(144)
Ending balance	454	515
Ship equipment [member] | Accumulated depreciation [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	347	218
Depreciation	114	129
Transfer to ships, property, plant and equipment	0	0
Derecognition of right-of-use asset	0	0
Effect of foreign currency exchange differences	0	0
Adjustment	(100)
Ending balance	361	347
Ship equipment [member] | Impairment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	0	0
Derecognition of right-of-use asset	0
Impairment loss		0
Ending balance	$ 0	$ 0

RIGHT-OF-USE ASSETS (Details Te

RIGHT-OF-USE ASSETS (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of quantitative information about right-of-use assets [line items]
Expense relating to short-term leases	$ 27,359,000	$ 60,869,000	$ 90,763,000
Expense relating to leases of low-value assets	104,000	82,000	58,000
Expense relating to variable lease payments	$ 285,000	$ 8,197,000	$ 11,532,000
Office and residential property [member] | Bottom of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lease Term	1 year
Office and residential property [member] | Top of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lease Term	4 years
Ships [member] | Bottom of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lease Term	2 years
Ships [member] | Top of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lease Term	5 years
Ship equipment [member] | Bottom of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lease Term	2 years
Ship equipment [member] | Top of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lease Term	5 years

SUBSIDIARIES (Details)

SUBSIDIARIES (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Proportion of ownership interest and voting power held by the Group		0%
Grindrod Shipping Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Grindrod Shipping Pte. Ltd.
Principal activity	Ship operating and management
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Grindrod Shipping South Africa [Member]
Statement1 [Line Items]
Name of subsidiary	Grindrod Shipping (South Africa) Pty Ltd
Principal activity	Ship operating and management
Country of incorporation	South Africa
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk Owning Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk Owning Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
IVS Bulk Carriers Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk Carriers Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
IVS Bulk 430 Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 430 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
IVS Bulk 462 Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 462 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
IVS Bulk 475 Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 475 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 511 Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 511 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 512 Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 512 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 603 Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 603 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 609 Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 609 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 611 Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 611 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 612 Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 612 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 707 Pte. Ltd.[Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 707 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 3708 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 3708 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 3720 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 3720 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 225 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 225 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
I V S Bulk Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IM Shipping Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	IM Shipping Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Island Bulk Carriers Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Island Bulk Carriers Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Grindrod Shipping Services UK Limited [Member]
Statement1 [Line Items]
Name of subsidiary	Grindrod Shipping Services UK Limited
Principal activity	To provide shipping and shipping related services
Country of incorporation	United Kingdom
Proportion of ownership interest and voting power held by the Group	100%	100%
Grindrod Shipping Services Hong Kong Limited [Member]
Statement1 [Line Items]
Name of subsidiary	Grindrod Shipping Services HK Limited
Principal activity	To provide shipping and shipping related services
Country of incorporation	Hong Kong
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 5028 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 5028 Pte Ltd
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	0%
IVS Bulk 725 LLC [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 725 LLC
Principal activity	Ship Owning and Operating
Country of incorporation	Marshall Islands
Proportion of ownership interest and voting power held by the Group	100%	0%
IVS Bulk 784 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 784 Pte Ltd
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	0%
IVS Bulk 784 LLC [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 784 LLC
Principal activity	Dormant
Country of incorporation	Marshall Islands
Proportion of ownership interest and voting power held by the Group	100%	0%
Unicorn Atlantic Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Atlantic Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Unicorn Baltic Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Baltic Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Unicorn Ionia Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Ionia Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Tanker Operations (434) Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Tanker Operations (434) Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Ross Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Ross Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Caspian Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Caspian Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Marmara Pte. Ltd.[member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Marmara Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Scotia Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Scotia Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Malacca Pte. Ltd. [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Malacca Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Bulk Carriers Ltd [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Bulk Carriers Ltd
Principal activity	Dormant
Country of incorporation	British Virgin Islands
Proportion of ownership interest and voting power held by the Group	100%	100%
Unicorn Tankers International Ltd [member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Tankers International Ltd
Principal activity	Dormant
Country of incorporation	British Virgin Islands
Proportion of ownership interest and voting power held by the Group	100%	100%
Grindrod Maritime LLC [member]
Statement1 [Line Items]
Name of subsidiary	Grindrod Maritime LLC
Principal activity	Dormant
Country of incorporation	Marshall Islands
Proportion of ownership interest and voting power held by the Group	0%	100%
Unicorn Sun Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Sun Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Unicorn Moon Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Unicorn Moon Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Island View Ship Management Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Island View Ship Management Pte. Ltd.
Principal activity	Ship management
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	0%
Taylor Maritime Management Limited [Member]
Statement1 [Line Items]
Name of subsidiary	Taylor Maritime Management Limited
Principal activity	Ship management
Country of incorporation	Marshall Islands
Proportion of ownership interest and voting power held by the Group	100%	0%
Comshipco Schiffahrts Agentur GmbH [Member]
Statement1 [Line Items]
Name of subsidiary	Comshipco Schiffahrts Agentur GmBH
Principal activity	Ship agents and operators
Country of incorporation	Germany
Proportion of ownership interest and voting power held by the Group	100%	100%
Kuhle Shipping Pty Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Kuhle Shipping (Pty) Ltd
Principal activity	Dormant
Country of incorporation	South Africa
Proportion of ownership interest and voting power held by the Group	0%	100%
IVS Bulk 541 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 541 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 543 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 543 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 545 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 545 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 554 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 554 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 709 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 709 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 5855 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 5855 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 5858 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 5858 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 712 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 712 Pte. Ltd.
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 7297 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 7297 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 1345 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 1345 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 3693 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 3693 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
IVS Bulk 10824 Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	IVS Bulk 10824 Pte. Ltd.
Principal activity	Ship Owning and Operating
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	100%
Tamar Ship Management Limited [Member]
Statement1 [Line Items]
Name of subsidiary	Tamar Ship Management Limited
Principal activity	Ship Management
Country of incorporation	Hong Kong
Proportion of ownership interest and voting power held by the Group	100%	0%
Tamar Ship Management Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Tamar Ship Management Pte. Ltd
Principal activity	Ship Management
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%
Castle Marine Services Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Castle Marine Services Ltd
Principal activity	Ship Management
Country of incorporation	Hong Kong
Proportion of ownership interest and voting power held by the Group	100%	0%
Taylor Maritime Pte Ltd [Member]
Statement1 [Line Items]
Name of subsidiary	Taylor Maritime Pte. Ltd
Principal activity	Ship Management
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	100%	0%
Taylor Maritime (HK) Limited [Member]
Statement1 [Line Items]
Name of subsidiary	Taylor Maritime (HK) Limited
Principal activity	Ship Management
Country of incorporation	Hong Kong
Proportion of ownership interest and voting power held by the Group	100%	0%
Taylor Maritime (UK) Limited [Member]
Statement1 [Line Items]
Name of subsidiary	Taylor Maritime (UK) Limited
Principal activity	Ship Management
Country of incorporation	United Kingdom
Proportion of ownership interest and voting power held by the Group	100%	0%

INTEREST IN JOINT VENTURES (Det

INTEREST IN JOINT VENTURES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Cost of investment in joint ventures	$ 9	$ 9
Share of post acquisition (loss) profit, net of dividends received	(1)	(1)
Carrying amount	$ 8	$ 8

INTEREST IN JOINT VENTURES (D_2

INTEREST IN JOINT VENTURES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Cost of investment in joint ventures	$ 9	$ 9
Tri-View Shipping Pte. Ltd. [member]
Statement1 [Line Items]
Principal activity	Dormant
Country of incorporation	Singapore
Proportion of ownership interest and voting power held by the Group	51%	51%
Cost of investment in joint ventures	$ 9	$ 9

INTEREST IN JOINT VENTURES (D_3

INTEREST IN JOINT VENTURES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement1 [Line Items]
Unrecognised share of losses of joint ventures		$ 5,000	$ 31,000

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Balance	$ 186
Balance	4,907	$ 186
Memberships [Member]
Statement1 [Line Items]
Balance	29
Balance	29	29
Software And Licenses [Member]
Statement1 [Line Items]
Balance	157
Balance	271	157
Customer-related intangible assets [member]
Statement1 [Line Items]
Balance	0
Balance	4,479	0
Carbon Credits [Member]
Statement1 [Line Items]
Balance	0
Balance	128	0
Cost [member]
Statement1 [Line Items]
Balance	893	2,029
Additions	212	126
Derecognition of intangible asset	207	1,173
Acquisition of subsidiary (Note 37)	5,160
Effect of foreign currency exchange differences	(71)	(89)
Balance	5,987	893
Cost [member] | Memberships [Member]
Statement1 [Line Items]
Balance	29	29
Additions	0	0
Derecognition of intangible asset	0	0
Acquisition of subsidiary (Note 37)	0
Effect of foreign currency exchange differences	0	0
Balance	29	29
Cost [member] | Software And Licenses [Member]
Statement1 [Line Items]
Balance	864	2,000
Additions	84	126
Derecognition of intangible asset	207	1,173
Acquisition of subsidiary (Note 37)	212
Effect of foreign currency exchange differences	(71)	(89)
Balance	882	864
Cost [member] | Customer-related intangible assets [member]
Statement1 [Line Items]
Balance	0	0
Additions	0	0
Derecognition of intangible asset	0	0
Acquisition of subsidiary (Note 37)	4,948
Effect of foreign currency exchange differences	0	0
Balance	4,948	0
Cost [member] | Carbon Credits [Member]
Statement1 [Line Items]
Balance	0	0
Additions	128	0
Derecognition of intangible asset	0	0
Acquisition of subsidiary (Note 37)	0
Effect of foreign currency exchange differences	0	0
Balance	128	0
Accumulated amortisation [member]
Statement1 [Line Items]
Balance	(707)	(1,802)
Additions	639	155
Derecognition of intangible asset	(206)	(1,173)
Effect of foreign currency exchange differences	(60)	(77)
Balance	(1,080)	(707)
Accumulated amortisation [member] | Memberships [Member]
Statement1 [Line Items]
Balance	0	0
Additions	0	0
Derecognition of intangible asset	0	0
Effect of foreign currency exchange differences	0	0
Balance	0	0
Accumulated amortisation [member] | Software And Licenses [Member]
Statement1 [Line Items]
Balance	(707)	(1,802)
Additions	170	155
Derecognition of intangible asset	(206)	(1,173)
Effect of foreign currency exchange differences	(60)	(77)
Balance	(611)	(707)
Accumulated amortisation [member] | Customer-related intangible assets [member]
Statement1 [Line Items]
Balance	0	0
Additions	469	0
Derecognition of intangible asset	0	0
Effect of foreign currency exchange differences	0	0
Balance	(469)	0
Accumulated amortisation [member] | Carbon Credits [Member]
Statement1 [Line Items]
Balance	0	0
Additions	0	0
Derecognition of intangible asset	0	0
Effect of foreign currency exchange differences	0	0
Balance	$ 0	$ 0

INTANGIBLE ASSETS (Details Text

INTANGIBLE ASSETS (Details Textual)	12 Months Ended
	Dec. 31, 2023
Customer-related intangible assets [member] | Bottom of range [member]
Statement1 [Line Items]
Intangible Assets Other than Goodwil useful Life	2 years
Customer-related intangible assets [member] | Top of range [member]
Statement1 [Line Items]
Intangible Assets Other than Goodwil useful Life	21 years
licenses [member]
Statement1 [Line Items]
Intangible Assets Other than Goodwil useful Life	3 years

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Balance	$ 0
Balance	7,924	$ 0
Cost [member]
Statement1 [Line Items]
Balance	3,292	3,305
Acquisition of subsidiaries	7,924	0
Effects of foreign currency exchange differences	(18)	(13)
Balance	11,198	3,292
Accumulated impairment [member]
Statement1 [Line Items]
Balance	(3,292)	(3,305)
Effects of foreign currency exchange differences	(18)	(13)
Balance	$ (3,274)	$ (3,292)

GOODWILL (Details 1)

GOODWILL (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement1 [Line Items]
Goodwill	$ 7,924	$ 0
Gross carrying amount [member]
Statement1 [Line Items]
Goodwill	11,198	3,292	$ 3,305
Gross carrying amount [member] | Parcel Service [Member]
Statement1 [Line Items]
Goodwill	185	203
Island Trading and Shipping [Member] | Gross carrying amount [member]
Statement1 [Line Items]
Goodwill	3,089	3,089
Taylor Maritime Management Limited [Member] | Gross carrying amount [member]
Statement1 [Line Items]
Goodwill	4,470	0
Tamar Ship Management Limited [Member] | Gross carrying amount [member]
Statement1 [Line Items]
Goodwill	$ 3,454	$ 0

GOODWILL (Details Textual)

GOODWILL (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($)
Other operating income (expense)
Statement1 [Line Items]
Impairment loss recognised in profit or loss, intangible assets and goodwill	$ 965,000
Taylor Maritime Management Limited [Member]
Statement1 [Line Items]
Discount rate used in current estimate of value in use	13.20%
Cash flow projection period	3 years
Growth rate used for cash flow projections	2.10%
Tamar Ship Management Limited [Member]
Statement1 [Line Items]
Growth rate used in the estimate of terminal value	2%
Discount rate used in current estimate of value in use	12.60%
Cash flow projection period	3 years
Cash flow projection additional period	2 years
Growth rate used for cash flow projections	3.10%

OTHER INVESTMENTS (Details)

OTHER INVESTMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans [line items]
Recognised asset at 1 January	$ 3,714	$ 3,730
Interest income	434	442
Recognised in other comprehensive income in the current year	(220)	(207)
Translation	(315)	(251)
Present value of other investment at 31 December	$ 3,613	$ 3,714
Discount rate (p.a.)	12.70%	12.20%

OTHER INVESTMENTS (Details Text

OTHER INVESTMENTS (Details Textual) - Grindrod Pension Fund [member] - Grindrod Shipping South Africa [Member]	Dec. 31, 2023 USD ($)	Dec. 31, 2023 ZAR (R)
Disclosure of defined benefit plans [line items]
Percentage of participation	40%	40%
Surplus (deficit) in plan	$ 3,150,000	R 46,054,000

DEFERRED TAX (Details)

DEFERRED TAX (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred taxation analysed by major category:
Other timing differences	$ 258	$ 1,304
Reconciliation of deferred taxation:
Opening balance	1,304	2,123
Credit to profit or loss for the year	(107)	(665)
Acquisition of subsidiary (Note 37)	(841)	0
Credit (charge) to other comprehensive income arising from actuarial gain	10	(45)
Exchange differences	(108)	(109)
Closing balance	258	1,304
Deferred tax assets and liabilities [abstract]
Deferred tax assets	1,019	1,304
Deferred tax liabilities	(761)	0
Deferred tax liability (asset)	$ 258	$ 1,304

DEFERRED TAX (Detail Textuals)

DEFERRED TAX (Detail Textuals) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised	$ 277,000	$ 2,814,000

TRADE AND OTHER PAYABLES (Detai

TRADE AND OTHER PAYABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Trade payables	$ 8,520	$ 10,035
Accrued expenses	15,017	19,250
Earn-out consideration (Note 37)	8,061	0
Other	250	454
Trade and other payables	31,848	29,739
Non-current trade and other payables	(1,153)	(140)
Current trade and other payables	$ 30,695	$ 29,599

LEASES AND SHIP CHARTERS (Detai

LEASES AND SHIP CHARTERS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received	$ 5,915	$ 0
Year 1
Disclosure of maturity analysis of operating lease payments [line items]
Undiscounted operating lease payments to be received	$ 5,915	$ 0

LEASES AND SHIP CHARTERS (Det_2

LEASES AND SHIP CHARTERS (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Current lease liabilities	$ 32,432	$ 22,058
Ships [member]
Statement1 [Line Items]
Current lease liabilities	$ 4,763,000	$ 0
Ship Owned [Member]
Statement1 [Line Items]
Operating lease remaining lease term	2 months
Operating lease option to extend	11 months

LEASE LIABILITIES - (Details)

LEASE LIABILITIES - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance	$ 26,113
Additions	65,993
Disposals	(110)
Interest expense	2,334	$ 1,414	$ 1,901
Acquisition of subsidiary (Note 37)	80
Lease payments	(60,610)	(58,344)
Principal payments	(33,796)	(38,930)
Purchase option payments	(24,480)	(18,000)
Interest	(2,334)
Effect of foreign currency exchange differences	5
Ending balance	33,805	26,113
Property [member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance	854
Additions	3,310
Disposals	(66)
Interest expense	199	37
Acquisition of subsidiary (Note 37)	80
Lease payments	(1,824)
Principal payments	(1,625)	(868)
Purchase option payments	0	0
Interest	(199)
Effect of foreign currency exchange differences	5
Ending balance	2,558	854
Ships [member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance	25,089
Additions	62,600
Disposals	0
Interest expense	2,132	1,370
Acquisition of subsidiary (Note 37)	0
Lease payments	(58,667)
Principal payments	(32,055)	(37,934)
Purchase option payments	(24,480)	(18,000)
Interest	(2,132)
Effect of foreign currency exchange differences	0
Ending balance	31,154	25,089
Ship equipment [member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance	170
Additions	83
Disposals	(44)
Interest expense	3	7
Acquisition of subsidiary (Note 37)	0
Lease payments	(119)
Principal payments	(116)	(128)
Purchase option payments	0	0
Interest	(3)
Effect of foreign currency exchange differences	0
Ending balance	93	170
Restatement [Member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance	26,113	33,271
Additions		49,766
Interest expense		1,414
Effect of foreign currency exchange differences		6
Ending balance	$ 33,805	26,113	33,271
Restatement [Member] | Property [member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance		818
Additions		898
Interest expense		37
Lease payments		(905)
Effect of foreign currency exchange differences		6
Ending balance			818
Restatement [Member] | Ships [member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance		32,194
Additions		48,829
Interest expense		1,370
Lease payments		(57,304)
Effect of foreign currency exchange differences		0
Ending balance			32,194
Restatement [Member] | Ship equipment [member]
Disclosure Of Detailed Information About Movement In Lease Liabilities [Line Items]
Beginning balance		259
Additions		39
Interest expense		7
Lease payments		(135)
Effect of foreign currency exchange differences		$ 0
Ending balance			$ 259

LEASE LIABILITIES - (Details 1)

LEASE LIABILITIES - (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease Liabilities [Line Items]
Current portion	$ 32,432	$ 22,058
Non-current portion	1,373	4,055
Lease liabilities	33,805	26,113
Restatement [Member]
Lease Liabilities [Line Items]
Current portion	32,432	22,058
Non-current portion	1,373	4,055
Lease liabilities	$ 33,805	$ 26,113	$ 33,271

BANK LOANS AND OTHER BORROWIN_3

BANK LOANS AND OTHER BORROWINGS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Secured – at amortised cost:
Bank Loans	$ 95,319	$ 148,002
Other borrowings	46,898	50,966
Borrowings	142,217	198,968
Analysed between:
Current	18,578	33,330
Non-current portion	123,639	165,638
Total	142,217	198,968
Interest payable (included in bank loans)	1,102	1,752
Non-current portion of non-current borrowings	123,639	165,638
Within 2 to 5 years [member]
Analysed between:
Non-current portion of non-current borrowings	101,555	138,809
More than 5 years [member]
Analysed between:
Non-current portion of non-current borrowings	$ 22,084	$ 26,829

BANK LOANS AND OTHER BORROWIN_4

BANK LOANS AND OTHER BORROWINGS (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Statement1 [Line Items]
Restricted Cash and Cash Equivalents	$ 4,560,000	$ 4,342,000
Carrying value Security charge	198,318,000	330,920,000
Borrowings	142,217,000	198,968,000
Line credit facility	275,000,000
Cash and cash equivalents	55,229,000	46,561,000	$ 104,243,000	$ 37,942,000
Other borrowings	46,898,000	50,966,000
Base Networth to be maintained	200,000,000
Repayments of borrowings	$ 56,912,000	49,850,000	$ 82,110,000
Top of range [member]
Statement1 [Line Items]
Debt ratio	75%
Bottom of range [member]
Statement1 [Line Items]
Restricted Cash and Cash Equivalents	$ 30,000,000
January Two Thousand Twenty To December Two Thousand And Twenty [Member]
Statement1 [Line Items]
Percentage of positive retained earnings in addition to base net worth to be maintained	25%
Percentage of capital raise in addition to base networth and positive retained earnings to be maintained	50%
Other Borrowings [Member]
Statement1 [Line Items]
Carrying value Security charge	$ 51,524,000	55,557,000
Secured term facility	60,750,000	$ 60,750,000
Borrowings, adjustment to interest rate basis		1.70%
Other borrowings	$ 46,898,000	$ 50,966,000
Other Borrowings [Member] | Three Month LIBOR [Member]
Statement1 [Line Items]
Borrowings, adjustment to interest rate basis	1.75%
Variable interest rate [Member]
Statement1 [Line Items]
Weighted average effective interest rate	9.44%	8.16%
Senior Secured Credit Facility one [Member]
Statement1 [Line Items]
Borrowings		$ 10,065,000
Borrowing facility fee		160,000
Line of credit facility fee	$ 1,750,000
Borrowings, interest rate	2.95%
Repayments of borrowings	$ 10,000,000
Senior Secured Credit Facility one [Member] | Lender Swap [Member]
Statement1 [Line Items]
Additional facility fees paid	164,000
Senior Secured Credit Facility Three [Member]
Statement1 [Line Items]
Borrowings		633,000
Borrowing facility fee		3,000
Line of credit facility fee	$ 32,000
Borrowings, interest rate	2%
Senior Secured Credit Facility Five [Member]
Statement1 [Line Items]
Borrowings	$ 22,630,000	24,692,000
Borrowing facility fee	60,000	82,000
Cash and cash equivalents	6,970,000	10,009,000
Line of credit facility fee	78,600
Secured term facility	$ 15,720,000
Borrowings, interest rate	2%
Senior Secured Credit Facility Six [Member]
Statement1 [Line Items]
Borrowings	$ 63,599,000	102,454,000
Borrowing facility fee	594,000,000	1,123,000,000
Line of credit facility fee	$ 1,634,137,000
Borrowings, interest rate	3.10%
Number of vessels to be purchased	11
Senior Secured Credit Facility Six [Member] | Amendment Of Finance Agreement [Member]
Statement1 [Line Items]
Additional borrowing capacity eligible to be availed	$ 23,031,000,000
Senior Secured Credit Facility Six [Member] | Second Drawdown [Member] | Amendment Of Finance Agreement [Member]
Statement1 [Line Items]
Additional facility fees paid	691,000,000
Senior Secured Credit Facility Seven [Member]
Statement1 [Line Items]
Borrowings	9,089,000	10,158,000
Borrowing facility fee	29,000	$ 55,700,000
Line of credit facility fee	$ 131,300
Borrowings, interest rate	2.75%
Number of vessels to be purchased	1

PROVISIONS (Details)

PROVISIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Provision for onerous contracts
Provision for onerous contracts	$ 277	$ 592	$ 1,019
Total Provisions	$ 277	$ 592

PROVISIONS (Details 1)

PROVISIONS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Analysis of provision for onerous contracts:
At beginning of the year	$ 592	$ 1,019
Provision raised	277	592
Released to profit or loss	(592)	(1,019)
At the end of the financial year	$ 277	$ 592

RETIREMENT BENEFIT OBLIGATION_2

RETIREMENT BENEFIT OBLIGATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Recognised liability at beginning of the year	$ 1,397	$ 1,613
Recognised in profit or loss in the current year	146	159
Interest on obligation	146	159
Actuarial loss (gain)	16	(156)
Translation	(118)	(101)
Employer payments	(122)	(118)
Present value of unfunded obligation recognised as a liability at end of year	1,319	1,397
Current portion	125	125
Non-current portion	1,194	1,272
Other	$ 1,319	$ 1,397
The principal actuarial assumptions applied in the determination of fair values include:
Health care cost inflation	7.80%	7.80%
Discount rate	12%	11.90%
CPI inflation	6.30%	6.30%
Continuation at retirement	100%	100%

RETIREMENT BENEFIT OBLIGATION_3

RETIREMENT BENEFIT OBLIGATION (Details 1)	Dec. 31, 2023	Dec. 31, 2022	Dec. 19, 2022
Health Care Cost Inflation [Member] | Bottom of range [member]
Statement1 [Line Items]
Percentage of reasonably possible increase decrease in actuarial assumption	(6.90%)	(7.50%)
Health Care Cost Inflation [Member] | Top of range [member]
Statement1 [Line Items]
Percentage of reasonably possible increase decrease in actuarial assumption		8.50%	7.80%
Discount Rate [Member] | Bottom of range [member]
Statement1 [Line Items]
Percentage of reasonably possible increase decrease in actuarial assumption	8%	(7.10%)
Discount Rate [Member] | Top of range [member]
Statement1 [Line Items]
Percentage of reasonably possible increase decrease in actuarial assumption		8.10%	(7.00%)

RETIREMENT BENEFIT OBLIGATION_4

RETIREMENT BENEFIT OBLIGATION (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Present value of unfunded obligations	$ 1,319	$ 1,397
Present Value of obligations in excess of plan assets	$ 1,319	$ 1,397

RETIREMENT BENEFIT OBLIGATION_5

RETIREMENT BENEFIT OBLIGATION (Details Textual)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement1 [Line Items]
Weighted average duration of defined benefit obligation	9 years	9 years	10 years

SHARE CAPITAL (Details)

SHARE CAPITAL (Details) - USD ($)			12 Months Ended
	Dec. 11, 2023	Oct. 26, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Issued and paid up:
Number of shares, Balance			0	825,163
Number of shares, Balance				0	825,163
Share capital, Balance			$ 287,449,000	$ 319,635,000	$ 254,019,000
Share capital, Issue of ordinary shares			1,950,000
Reduction of issued capital	$ 631.93000	$ 1,015.98000
Share capital, Balance			$ 246,120,000	$ 287,449,000	$ 319,635,000
Share capital [member]
Issued and paid up:
Number of shares, Balance			19,472,008	19,310,024	19,063,833
Number of shares, Issue of ordinary shares			213,582	161,984	246,191
Number of shares, Balance			19,685,590	19,472,008	19,310,024
Share capital, Balance			$ 320,683,000	$ 320,683,000	$ 320,683,000
Share capital, Issue of ordinary shares			1,950,000	0	0
Reduction of issued capital			$ (32,440,000)
Reduction of Issued capital share			0
Share capital, Balance			$ 290,193,000	$ 320,683,000	$ 320,683,000

SHARE CAPITAL (Details Textual)

SHARE CAPITAL (Details Textual)				1 Months Ended		12 Months Ended
	Dec. 11, 2023 USD ($)	Oct. 26, 2023 USD ($)	Oct. 04, 2023 USD ($) shares	Dec. 31, 2022 shares	Mar. 31, 2021 shares	Dec. 31, 2022 shares	Dec. 31, 2021 USD ($)
Statement1 [Line Items]
Number of shares issued						475,515
Number of instruments issued or issuable			213,582
Increase decrease through acquistion of subsidiary | $			$ 1,950,000,000				$ (46,634,000)
Reduction of issued capital | $	$ 631.93000	$ 1,015.98000
Ordinary shares [member] | 2018 FSP [Member]
Statement1 [Line Items]
Number of shares issued				161,984
Certain Employees [Member] | Ordinary shares [member] | 2018 FSP [Member]
Statement1 [Line Items]
Stock issued during the period shares					246,191

OTHER EQUITY AND RESERVES (Deta

OTHER EQUITY AND RESERVES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Hedging reserve	$ (554)	$ (1,337)
Translation reserve	(11,305)	(10,700)
Merger reserve	(12,649)	(12,649)
Other reserves	$ (24,508)	$ (24,686)

OTHER EQUITY AND RESERVES (De_2

OTHER EQUITY AND RESERVES (Details 1)	12 Months Ended
	Dec. 31, 2022 shares
Disclosure Of Treasury Shares [Line Items]
Number of shares, Balance	825,163
Reissued to Offeror under the TMI Offer	(825,163)
Number of shares, Balance	0
Treasury Share [member]
Disclosure Of Treasury Shares [Line Items]
Number of shares, Balance	11,870,000
Reissued to Offeror under the TMI Offer	(11,870)
Number of shares, Balance	0

OTHER EQUITY AND RESERVES (De_3

OTHER EQUITY AND RESERVES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Balance	$ 0	$ 4,777
Share-based payments expenses	0	8,134
Treasury shares issued to employees under the Forfeitable Share Plan	0	(12,911)
Balance	$ 0	$ 0

OTHER EQUITY AND RESERVES (De_4

OTHER EQUITY AND RESERVES (Details 3)	12 Months Ended
	Dec. 31, 2022 shares Agreements $ / shares
Other Reserves [Line Items]
Number of share awards, Outstanding | Agreements	861,168
Number of share awards, Issued during the year	232,646
Number of share awards, Forfeited during the year	(106,667)
Awards vested to employees under the Forfeitable Share Plan	(511,632)
Awards vested to employees under TMI Offer	(475,515)
Number of share awards, Outstanding	0
2018 Award [Member]
Other Reserves [Line Items]
Number of share awards, Outstanding | Agreements	220,668
Number of share awards, Forfeited during the year	0
Awards vested to employees under the Forfeitable Share Plan	(220,668)
Awards vested to employees under TMI Offer	0
Number of share awards, Outstanding	0
Fair value at grand date, Outstanding | $ / shares	$ 10.18
2020 Award [Member]
Other Reserves [Line Items]
Number of share awards, Outstanding | Agreements	124,500
Awards vested to employees under the Forfeitable Share Plan	(80,500)
Awards vested to employees under TMI Offer	(44,000)
Number of share awards, Outstanding	0
Fair value at grand date, Outstanding | $ / shares	$ 2.9
2021 Award [Member]
Other Reserves [Line Items]
Number of share awards, Outstanding | Agreements	516,000
Number of share awards, Issued during the year	0
Number of share awards, Forfeited during the year	(106,667)
Awards vested to employees under the Forfeitable Share Plan	(171,996)
Awards vested to employees under TMI Offer	(237,337)
Number of share awards, Outstanding	0
Fair value at grand date, Outstanding | $ / shares	$ 11.85
2022 Award [Member]
Other Reserves [Line Items]
Number of share awards, Issued during the year	232,646
Awards vested to employees under the Forfeitable Share Plan	(38,468)
Awards vested to employees under TMI Offer	(194,178)
Number of share awards, Outstanding	0
Fair value at grand date, Outstanding | $ / shares	$ 25.58

OTHER EQUITY AND RESERVES (De_5

OTHER EQUITY AND RESERVES (Details Textual) - USD ($)			12 Months Ended
	Jun. 09, 2020	Jul. 31, 2018	Dec. 31, 2023	Dec. 31, 2022
Statement1 [Line Items]
Description of vesting requirements for share-based payment arrangement			At any time, the aggregate number of ordinary shares of the company may be granted under Awards that have not vested shall not exceed 5% of the ordinary shares in issue (excluding treasury shares) on the day preceding the Award.
Share based Compensation Number Of Shares Nonvested Subjected to Awards				862,502
Expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets			$ 8,134,000	$ 2,023
2018 FSP [Member]
Statement1 [Line Items]
Share based Payments Number of Awards Available for Grant				102,999
2018 FSP [Member] | Certain Employees [Member]
Statement1 [Line Items]
Share based compensation by share based payment arrangement vesting period.		3 years
Additional Awards Granted FSP Two Thousand And Eighteen [Member] | Chief Executive Officer [Member]
Statement1 [Line Items]
Share based compensation by share based payment arrangement vesting period.	3 years

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Over time:
Charter hire	$ 82,511	$ 193,631	$ 210,079
Freight revenue	143,535	236,327	245,179
Vessel revenue	226,046	429,958	455,258
Management fees	2,945	521	581
Other	2,945	521	581
At a point in time:
Sale of ships	153,668	29,600	0
Sale of bunkers and other consumables	4,437	381	0
Ship sales	158,105	29,981	0
Revenue	$ 387,096	$ 460,460	$ 455,839

REVENUE (Details Textual)

REVENUE (Details Textual)	12 Months Ended
	Dec. 31, 2023
Statement1 [Line Items]
Percentage of Unsatisfied Revenue Expected to be Recognized	100%

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Impairment loss recognised on financial assets
Total revenue	$ 387,096	$ 460,460	$ 455,839
Voyage expenses	74,614	91,104	96,964
Vessel operating costs	43,001	46,901	43,958
Gross profit	39,367	166,762	176,897
Interest income	2,798	2,228	201
Interest expense	(17,099)	(17,133)	(12,298)
Share of losses of joint ventures	0	(5)	(31)
Income tax (expense) benefit	(683)	(757)	118
(Loss) profit for the period	(9,622)	103,367	129,482
(Reversal of) impairment loss on right-of-use assets	0	985	(1,046)
Impairment loss on disposal group	0	0	2,551
Unallocated Total [member]
Impairment loss recognised on financial assets
Vessel revenue	0	0	0
Ship sale revenue	0	0	0
Other	0	0	0
Total revenue	0	0	0
Voyage expenses	0	0	0
Vessel operating costs	0	0	0
Charter hire costs	0	0	0
Depreciation of ships, drydocking and plant and equipment– owned assets	0	0	0
Depreciation of ships and ship equipment – right-of-use assets	0	0	0
Cost of ship sale	0	0	0
Other	0	0	0
Cost of sales	0	0	0
Gross profit	0	0	0
Operating (loss) profit	(7,036)	(14,621)	(3,379)
Interest income	6	101	20
Interest expense	0	0	0
Share of losses of joint ventures		0	0
Income tax (expense) benefit	(297)	0	0
(Loss) profit for the period	(7,327)	(14,520)	(3,359)
(Reversal of) impairment loss on right-of-use assets			0
(Reversal of ) impairment loss on owned ships	0	0	0
Impairment loss on disposal group		0
Impairment loss on goodwill and intangible assets			0
Impairment loss on owned ships			0
Capital expenditure	0	0	0
Total [member]
Impairment loss recognised on financial assets
Vessel revenue	226,046	429,958	455,258
Ship sale revenue	158,105	29,981	0
Other	2,945	521	581
Total revenue	387,096	460,460	455,839
Voyage expenses	(74,614)	(91,104)	(96,964)
Vessel operating costs	(43,001)	(46,901)	(43,958)
Charter hire costs	(26,952)	(58,926)	(75,381)
Depreciation of ships, drydocking and plant and equipment– owned assets	(24,824)	(30,498)	(25,866)
Depreciation of ships and ship equipment – right-of-use assets	(30,343)	(35,676)	(34,898)
Cost of ship sale	(147,440)	(29,897)	0
Other	(555)	(696)	(1,875)
Cost of sales	(347,728)	(293,698)	(278,942)
Gross profit	39,368	166,762	176,897
Operating (loss) profit	5,362	119,029	144,626
Interest income	2,798	2,228	201
Interest expense	(17,099)	(17,133)	(12,298)
Share of losses of joint ventures		0	0
Income tax (expense) benefit	(683)	(757)	118
(Loss) profit for the period	(9,622)	103,367	132,647
(Reversal of) impairment loss on right-of-use assets			(1,046)
(Reversal of ) impairment loss on owned ships	1,690	(1,707)	(3,557)
Impairment loss on disposal group		985
Impairment loss on goodwill and intangible assets			965
Impairment loss on owned ships			2,551
Capital expenditure	38,728	9,419	33,504
Adjustments [member]
Impairment loss recognised on financial assets
Vessel revenue	0	0	0
Ship sale revenue	0	0	0
Other	0	0	0
Total revenue	0	0	0
Voyage expenses	0	0	0
Vessel operating costs	0	0	0
Charter hire costs	0	0	0
Depreciation of ships, drydocking and plant and equipment– owned assets	0	0	0
Depreciation of ships and ship equipment – right-of-use assets	0	0	0
Cost of ship sale	0	0	0
Other	0	0	0
Cost of sales	0	0	0
Gross profit	0	0	0
Operating (loss) profit	0	5	31
Interest income	0	0	0
Interest expense	0	0	0
Share of losses of joint ventures		(5)	(31)
Income tax (expense) benefit	0	0	0
(Loss) profit for the period	0	0	0
(Reversal of) impairment loss on right-of-use assets			0
(Reversal of ) impairment loss on owned ships	0	0	0
Impairment loss on disposal group		0
Impairment loss on goodwill and intangible assets			0
Impairment loss on owned ships			0
Capital expenditure	0	0	0
Combined Total [Member]
Impairment loss recognised on financial assets
Vessel revenue	226,046	429,958	455,258
Ship sale revenue	158,105	29,981	0
Other	2,945	521	581
Total revenue	387,096	460,460	455,839
Voyage expenses	(74,614)	(91,104)	(96,964)
Vessel operating costs	(43,001)	(46,901)	(43,958)
Charter hire costs	(26,952)	(58,926)	(75,381)
Depreciation of ships, drydocking and plant and equipment– owned assets	(24,824)	(30,498)	(25,866)
Depreciation of ships and ship equipment – right-of-use assets	(30,343)	(35,676)	(34,898)
Cost of ship sale	(147,440)	(29,897)	0
Other	(555)	(696)	(1,875)
Cost of sales	(347,728)	(293,698)	(278,942)
Gross profit	39,368	166,762	176,897
Operating (loss) profit	5,362	119,034	144,657
Interest income	2,798	2,228	201
Interest expense	(17,099)	(17,133)	(12,298)
Share of losses of joint ventures		(5)	(31)
Income tax (expense) benefit	(683)	(757)	118
(Loss) profit for the period	(9,622)	103,367	132,647
(Reversal of) impairment loss on right-of-use assets			(1,046)
(Reversal of ) impairment loss on owned ships	1,690	(1,707)	(3,557)
Impairment loss on disposal group		985
Impairment loss on goodwill and intangible assets			965
Impairment loss on owned ships			2,551
Capital expenditure	38,728	9,419	33,504
Drybulk carrier business [Member]
Impairment loss recognised on financial assets
Vessel revenue	226,046	429,958	455,258
Ship sale revenue	158,105	29,981	0
Other	2,945	521	581
Total revenue	387,096	460,460	455,839
Voyage expenses	(74,614)	(91,104)	(96,964)
Vessel operating costs	(43,001)	(46,901)	(43,958)
Charter hire costs	(26,952)	(58,926)	(75,381)
Depreciation of ships, drydocking and plant and equipment– owned assets	(24,824)	(30,498)	(25,866)
Depreciation of ships and ship equipment – right-of-use assets	(30,343)	(35,676)	(34,898)
Cost of ship sale	(147,440)	(29,897)	0
Other	(555)	(696)	(1,875)
Cost of sales	(347,728)	(293,698)	(278,942)
Gross profit	39,368	166,762	176,897
Operating (loss) profit	12,398	133,650	148,005
Interest income	2,792	2,127	181
Interest expense	(17,099)	(17,133)	(12,298)
Share of losses of joint ventures		0	0
Income tax (expense) benefit	(386)	(757)	118
(Loss) profit for the period	(2,295)	117,887	136,006
(Reversal of) impairment loss on right-of-use assets			(1,046)
(Reversal of ) impairment loss on owned ships	1,690	(1,707)	(3,557)
Impairment loss on disposal group		985
Impairment loss on goodwill and intangible assets			965
Impairment loss on owned ships			2,551
Capital expenditure	38,728	9,419	33,504
Drybulk carrier business [Member] | Handysize [Member]
Impairment loss recognised on financial assets
Vessel revenue	87,918	159,524	157,707
Ship sale revenue	63,760	0	0
Other	90	410	503
Total revenue	151,768	159,934	158,210
Voyage expenses	(25,355)	(30,683)	(27,235)
Vessel operating costs	(28,788)	(31,625)	(31,043)
Charter hire costs	(13,334)	(12,126)	(11,755)
Depreciation of ships, drydocking and plant and equipment– owned assets	(14,076)	(17,946)	(13,724)
Depreciation of ships and ship equipment – right-of-use assets	(14)	(14)	(17)
Cost of ship sale	(60,582)	0	0
Other	(373)	(1,024)	(457)
Cost of sales	(142,522)	(93,418)	(84,231)
Gross profit	9,246	66,516	73,979
Operating (loss) profit	(2,035)	54,904	65,612
Interest income	1,373	881	7
Interest expense	(6,416)	(7,847)	(4,873)
Share of losses of joint ventures		0	0
Income tax (expense) benefit	(192)	(308)	3
(Loss) profit for the period	(7,270)	47,630	60,749
(Reversal of) impairment loss on right-of-use assets			0
(Reversal of ) impairment loss on owned ships	1,849	(1,707)	(3,557)
Impairment loss on disposal group		0
Impairment loss on goodwill and intangible assets			94
Impairment loss on owned ships			0
Capital expenditure	37,472	5,529	5,947
Drybulk carrier business [Member] | Supermax [Member]
Impairment loss recognised on financial assets
Vessel revenue	138,128	268,352	292,179
Ship sale revenue	94,345	0	0
Other	27	111	78
Total revenue	232,500	268,463	292,257
Voyage expenses	(49,259)	(60,420)	(69,600)
Vessel operating costs	(16,921)	(18,249)	(15,811)
Charter hire costs	(13,618)	(46,800)	(63,626)
Depreciation of ships, drydocking and plant and equipment– owned assets	(10,748)	(11,791)	(10,474)
Depreciation of ships and ship equipment – right-of-use assets	(30,329)	(35,662)	(34,881)
Cost of ship sale	(87,168)	0	0
Other	(182)	334	(1,419)
Cost of sales	(208,225)	(172,588)	(195,811)
Gross profit	24,275	95,875	96,446
Operating (loss) profit	14,550	76,546	78,777
Interest income	1,413	1,085	11
Interest expense	(10,682)	(8,075)	(6,376)
Share of losses of joint ventures		0	0
Income tax (expense) benefit	(203)	(426)	11
(Loss) profit for the period	5,078	69,130	72,423
(Reversal of) impairment loss on right-of-use assets			(1,046)
(Reversal of ) impairment loss on owned ships	(159)	0	0
Impairment loss on disposal group		985
Impairment loss on goodwill and intangible assets			871
Impairment loss on owned ships			0
Capital expenditure	837	3,812	26,423
Drybulk carrier business [Member] | Others [Member]
Impairment loss recognised on financial assets
Vessel revenue	0	2,082	5,372
Ship sale revenue	0	29,981	0
Other	2,828	0	0
Total revenue	2,828	32,063	5,372
Voyage expenses	0	(1)	(129)
Vessel operating costs	2,708	2,973	2,896
Charter hire costs	0	0	0
Depreciation of ships, drydocking and plant and equipment– owned assets	0	(761)	(1,668)
Depreciation of ships and ship equipment – right-of-use assets	0	0	0
Cost of ship sale	310	(29,897)	0
Other	0	(6)	1
Cost of sales	3,018	(27,692)	1,100
Gross profit	5,846	4,371	6,472
Operating (loss) profit	(117)	2,200	3,616
Interest income	6	161	163
Interest expense	(1)	(1,211)	(1,049)
Share of losses of joint ventures		0	0
Income tax (expense) benefit	9	(23)	104
(Loss) profit for the period	(103)	1,127	2,834
(Reversal of) impairment loss on right-of-use assets			0
(Reversal of ) impairment loss on owned ships	0	0	0
Impairment loss on disposal group		0
Impairment loss on goodwill and intangible assets			0
Impairment loss on owned ships			0
Capital expenditure	$ 419	$ 78	$ 1,134

OTHER OPERATING (EXPENSE) INC_3

OTHER OPERATING (EXPENSE) INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of other operating income expense [Abstract]
(Impairment loss) reversal of impairment recognised on ships (Note 12)	$ (2,000)	$ 1,707	$ 3,557
(Impairment loss) reversal of impairment recognised on right-of-use assets (Note 13)	0	(985)	1,046
Impairment loss on goodwill (Note 17)	0	0	(965)
(Impairment loss) reversal of on financial assets	(53)	45	(2)
Reversal of impairment of asset under construction (Note 12)	310	0	0
Lease income (Note 5)	345	0	0
Net foreign exchange (loss) gain	(237)	(512)	95
Gain on disposal of plant and equipment	12	36	14
Gain on disposal of right-of-use asset	3	0	104
Other operating income	277	52	0
Other operating expense	(9)	(2)	0
Total Other operating (expense) income	$ (1,352)	$ 341	$ 3,849

INTEREST INCOME (Details)

INTEREST INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of interest income [Abstract]
Bank interests	$ 2,363	$ 1,776	$ 201
Other interests	435	452	0
Interest income	$ 2,798	$ 2,228	$ 201

INTEREST EXPENSE (Details)

INTEREST EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of interest expenses [Abstract]
Interest on bank loans	$ 13,912	$ 14,119	$ 6,231
Interest on non-bank loan	0	0	1,808
Amortisation of upfront fees on bank loans	812	1,539	1,263
Other finance cost	41	61	1,095
Interest on lease liabilities	2,334	1,414	1,901
Interest Expense	$ 17,099	$ 17,133	$ 12,298

(LOSS) PROFIT BEFORE TAXATION_2

(LOSS) PROFIT BEFORE TAXATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement1 [Line Items]
Total depreciation and amortisation	$ 57,654	$ 67,275	$ 61,953
Cost of inventories recognised as expense (included in voyage expenses)	61,008	78,172	57,633
Expense recognised in respect of equity-settled share-based payments	0	8,134	3,336
Employee benefits expenses (including directors' remuneration and share based payments)	18,330	28,053	27,206
Cost of defined benefit plan and defined contribution plans included in employee benefits expenses	985	1,320	1,096
Tender offer and related expenses	0	10,307	0
Property, plant and equipment not subject to operating leases [member]
Statement1 [Line Items]
Depreciation of ships, dry-docking and plant and equipment	24,824	30,498	25,866
Depreciation of other property, plant and equipment	154	57	51
Amortisation of intangible assets	638	155	165
Total depreciation and amortisation	25,616	30,710	26,082
Property, plant and equipment subject to operating leases [member]
Statement1 [Line Items]
Depreciation of ships and ship equipment – right-of-use	30,343	35,676	34,898
Depreciation of property – right-of-use	1,695	889	938
Total depreciation and amortisation – right-of-use assets	32,038	36,565	35,836
Property, plant and equipment operating leases [Member]
Statement1 [Line Items]
Total depreciation and amortisation	$ 57,654	$ 67,275	$ 61,918

INCOME TAX EXPENSE (BENEFIT) (D

INCOME TAX EXPENSE (BENEFIT) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax
In respect of the current year	$ 367	$ 428	$ 513
Withholding taxes	306	127	48
In respect of prior years	(97)	(463)	(132)
Current tax expense (income) and adjustments for current tax of prior periods	576	92	429
Deferred tax
In respect of the current year	107	665	(547)
Deferred tax expense (income)	107	665	(547)
Tax expense (income), continuing operations	$ 683	$ 757	$ (118)

INCOME TAX EXPENSE (BENEFIT) _2

INCOME TAX EXPENSE (BENEFIT) (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement1 [Line Items]
(Loss) profit before tax	$ (8,939)	$ 104,124	$ 132,529
Income tax (benefit) expense calculated at corporate rate	(1,520)	17,701	22,530
Adjusted for:
Effect of income that is exempt from tax	(7,772)	(32,053)	(27,890)
Effect of expenses that are not deductible in determining taxable profit	9,506	15,025	6,204
Effect of different tax rates of subsidiaries operating in other jurisdictions	260	420	(878)
Overprovision of current tax in prior year	(97)	(463)	(132)
Withholding tax	306	127	48
Tax expense (income), continuing operations	$ 683	$ 757	$ (118)

INCOME TAX EXPENSE (BENEFIT) _3

INCOME TAX EXPENSE (BENEFIT) (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement1 [Line Items]
Profit (loss) before tax	$ (8,939)	$ 104,124	$ 132,529
Current tax expense (income) and adjustments for current tax of prior periods	576	92	429
Deferred tax expense (income)	$ 107	$ 665	$ (547)
Singapore [Member]
Statement1 [Line Items]
Applicable tax rate	17%
South africa [Member]
Statement1 [Line Items]
Applicable tax rate	27%	28%	28%
Country of domicile [member]
Statement1 [Line Items]
Profit (loss) before tax	$ 10,054,000	$ 100,741,000	$ 130,774,000
Current tax expense (income) and adjustments for current tax of prior periods	209,000	348,000	49,000
Foreign countries [member]
Statement1 [Line Items]
Profit (loss) before tax	1,115,000	2,626,000	1,873,000
Current tax expense (income) and adjustments for current tax of prior periods	367,000	256,000	380,000
Deferred tax expense (income)	$ 107,000	$ 665,000	$ 547,000

DISCONTINUED OPERATION (Detail)

DISCONTINUED OPERATION (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Cost of Sales
Loss before taxation	$ (5,878)
Tanker business [Member]
Disclosure of analysis of single amount of discontinued operations [line items]
Revenue	52,980
Cost of Sales
Voyage expenses	(421)
Vessel operating costs	(1,942)
Other expenses	(61)
Cost of ship sale	(50,580)
Gross loss	(24)
Other operating expense	(2,986)
Administrative expense	(2,253)
Share of losses of joint ventures	(1)
Interest income	35
Interest expense	(649)
Income tax benefit	2,713
Net loss attributable to discontinued operation (attributable to the owners of the Company)	$ (3,165)

DISCONTINUED OPERATION (Detail

DISCONTINUED OPERATION (Detail 1) - Tanker business [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Disclosure Of Summary Of Cash Flows From Discontinued Operations [Line Items]
Cash generated from operating activities	$ 21,902
Cash generated from investing activities	962
Cash used in financing activities	$ (25,949)

DISCONTINUED OPERATION (Details

DISCONTINUED OPERATION (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Summary Of Cash Flows From Discontinued Operations [Line Items]
Adjustment of current tax of prior period	$ (97,000)	$ (463,000)	$ (132,000)
Her Majesty Revenue And Customs [Member]
Disclosure Of Summary Of Cash Flows From Discontinued Operations [Line Items]
Adjustment of current tax of prior period			$ 2,400,000

ACQUISITION OF SUBSIDIARIES (De

ACQUISITION OF SUBSIDIARIES (Details 1) - USD ($)	Dec. 31, 2023	Oct. 03, 2023	Dec. 31, 2022
Disclosure of detailed information about business combination [line items]
Earn-out consideration	$ 8,061,000		$ 0
TSM [Member]
Disclosure of detailed information about business combination [line items]
Cash and bank balances including restricted cash	1,733,000
Trade receivables	72,000
Other receivables and prepayments	371,000
Due from related parties	0
Ships, property, plant and equipment	128,000
Right-of-use assets	80,000
Tax recoverable	67,000
Intangible assets	3,018,000
Trade and other payables	(2,268,000)
Deferred tax liabilities	(477,000)
Due to related parties	(233,000)
Lease liabilities	(80,000)
Income tax payable	0
Fair value of net identifiable assets acquired	2,411,000
Goodwill arising on acquisition	3,454,000
Total consideration	5,865,000
Cash	760,000
Equity instruments	975,000	$ 975,000
Earn-out consideration	4,130,000
TMM [Member]
Disclosure of detailed information about business combination [line items]
Cash and bank balances including restricted cash	2,562,000
Trade receivables	362,000
Other receivables and prepayments	184,000
Due from related parties	2,000
Ships, property, plant and equipment	58,000
Right-of-use assets	0
Tax recoverable	0
Intangible assets	2,142,000
Trade and other payables	(880,000)
Deferred tax liabilities	(364,000)
Due to related parties	0
Lease liabilities	0
Income tax payable	(2,143,000)
Fair value of net identifiable assets acquired	1,923,000
Goodwill arising on acquisition	4,470,000
Total consideration	6,393,000
Cash	1,487,000
Equity instruments	975,000	$ 975,000
Earn-out consideration	3,931,000
TSS And TMM [Member]
Disclosure of detailed information about business combination [line items]
Cash and bank balances including restricted cash	4,295,000
Trade receivables	434,000
Other receivables and prepayments	555,000
Due from related parties	2,000
Ships, property, plant and equipment	186,000
Right-of-use assets	80,000
Tax recoverable	67,000
Intangible assets	5,160,000
Trade and other payables	(3,148,000)
Deferred tax liabilities	(841,000)
Due to related parties	(233,000)
Lease liabilities	(80,000)
Income tax payable	(2,143,000)
Fair value of net identifiable assets acquired	4,334,000
Goodwill arising on acquisition	7,924,000
Total consideration	12,258,000
Cash	2,247,000
Equity instruments	1,950,000
Earn-out consideration	$ 8,061,000

ACQUISITION OF SUBSIDIARIES (_2

ACQUISITION OF SUBSIDIARIES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure In Tabular Form Of Net Cash Inflows Outflows On Business Acquisition [Line Items]
Net cash received from acquisition of subsidiaries	$ (2,048)	$ 0	$ 0
TSM [Member]
Disclosure In Tabular Form Of Net Cash Inflows Outflows On Business Acquisition [Line Items]
Cash consideration	(760)
Less: cash and bank balances including restricted cash	1,733
Net cash received from acquisition of subsidiaries	973
TMM [Member]
Disclosure In Tabular Form Of Net Cash Inflows Outflows On Business Acquisition [Line Items]
Cash consideration	(1,487)
Less: cash and bank balances including restricted cash	2,562
Net cash received from acquisition of subsidiaries	1,075
TSM And TMM [Member]
Disclosure In Tabular Form Of Net Cash Inflows Outflows On Business Acquisition [Line Items]
Cash consideration	(2,247)
Less: cash and bank balances including restricted cash	4,295
Net cash received from acquisition of subsidiaries	$ 2,048

ACQUISITION OF A SUBSIDIARY (De

ACQUISITION OF A SUBSIDIARY (Details Textual)	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Oct. 04, 2023 shares	Oct. 03, 2023 USD ($) shares
Statement1 [Line Items]
Number of instruments issued or issuable | shares			213,582
TMM [Member]
Statement1 [Line Items]
Equity interests of acquirer transferred in business combination	$ 975,000	$ 975,000		$ 975,000
Number of instruments issued or issuable | shares				106,791
Percentage of premium on base consideration contingently payable				20%
Business combination contingent consideration payable including premium				$ 0
Contingent consideration recognised as of acquisition date				3,900,000
TMM [Member] | Bottom of range [member]
Statement1 [Line Items]
Business combination contingent consideration payable including premium				4,277,000
TMM [Member] | Top of range [member]
Statement1 [Line Items]
Business combination contingent consideration payable including premium				5,004,000
TSM [Member]
Statement1 [Line Items]
Equity interests of acquirer transferred in business combination	975,000	975,000		$ 975,000
Number of instruments issued or issuable | shares				106,791
Percentage of premium on base consideration contingently payable				20%
Business combination contingent consideration payable including premium				$ 0
Contingent consideration recognised as of acquisition date				3,900,000
TSM [Member] | Bottom of range [member]
Statement1 [Line Items]
Business combination contingent consideration payable including premium				4,277,000
TSM [Member] | Top of range [member]
Statement1 [Line Items]
Business combination contingent consideration payable including premium				$ 5,004,000
TSM And TMM [Member]
Statement1 [Line Items]
Revenue of acquiree	2,829,000
Net income loss of acquiree	$ 328,000
Revenue of combined entity if acqusition would have occurred in the beginning of the financial year		399,984,000
Profit loss of combined entity if acqusition would have occurred in the beginning of the financial year		6,300,000
TSM And TMM [Member] | Other Operating Income (Expense) [Member]
Statement1 [Line Items]
Business combination issuance costs recognized as expenses		$ 155,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
(Loss) profit for the purpose of basic (loss) profit per share
Net (loss) profit attributable to the shareholders of the Group	$ (9,622)	$ 103,367	$ 118,925
Effect of dilutive potential on ordinary shares	0	0	0
(Loss) profit for the purposes of diluted (loss) profit per share	$ (9,622)	$ 103,367	$ 118,925
Number of shares for the purpose of calculating basic and diluted (loss) profit per share
Weighted average number of ordinary shares for the purpose of basic (loss) profit per share	19,524,087	18,949,972	19,150,787
Effect of dilutive potential ordinary shares due to FSP share awards	0	0	861,168
Weighted average number of ordinary shares for the purpose of diluted (loss) profit per share	19,524,087	18,949,972	20,011,955
Basic (loss) profit per share	$ (0.49)	$ 5.45	$ 6.21
Diluted (loss) profit per share	$ (0.49)	$ 5.45	$ 5.94

EARNINGS PER SHARE (Details 1)

EARNINGS PER SHARE (Details 1) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Number of shares	0	0	650,333

EARNINGS PER SHARE (Details 3)

EARNINGS PER SHARE (Details 3) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Net (loss) profit attributable to the shareholders of the Group	$ (9,622)	$ 103,367	$ 118,925
Adjustments to exclude loss for the year from discontinued operation	0	0	3,165
(Loss) profit from continuing operations for the purpose of basic (loss) profit per share from continuing operations	(9,622)	103,367	122,090
(Loss) profit for the purposes of diluted (loss) profit per share from continuing operations	$ (9,622)	$ 103,367	$ 122,090
Basic (loss) profit per share	$ (0.49)	$ 5.45	$ 6.38
Diluted (loss) profit per share	$ (0.49)	$ 5.45	$ 6.1

EARNINGS PER SHARE (Details 4)

EARNINGS PER SHARE (Details 4) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Basic loss per share	$ 0	$ 0	$ (0.17)
Diluted loss per share	$ 0	$ 0	$ (0.16)

DIVIDENDS (Details Textual)

DIVIDENDS (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Discloures Of Dividend [Line Items]
Interim dividend paid	$ 1,169	$ 135,877	$ 13,546
17 March (2022: 22 March and 2021: 13 December) [Member]
Discloures Of Dividend [Line Items]
Interim dividend paid	$ 585	$ 13,650	$ 13,546
Interim dividend per share	$ 0.03	$ 0.72	$ 0.72
19 June (2022: 20 June) [Member]
Discloures Of Dividend [Line Items]
Interim dividend paid	$ 584	$ 8,910	$ 0
Interim dividend per share	$ 0.03	$ 0.47	$ 0
19 September [Member]
Discloures Of Dividend [Line Items]
Interim dividend paid	$ 0	$ 15,957	$ 0
Interim dividend per share	$ 0	$ 0.84	$ 0
1 December [Member]
Discloures Of Dividend [Line Items]
Interim dividend paid	$ 0	$ 97,360	$ 0
Interim dividend per share	$ 0	$ 5	$ 0

COMMITMENTS (Details)

COMMITMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
With in one year
Statement1 [Line Items]
Contractual capital commitments	$ 17,869	$ 1,399

EVENTS AFTER THE REPORTING PE_2

EVENTS AFTER THE REPORTING PERIOD (Details Textual)							12 Months Ended
	Mar. 11, 2024 USD ($)	Mar. 08, 2024 USD ($)	Feb. 29, 2024 USD ($) vessels	Feb. 23, 2024 USD ($)	Feb. 06, 2024 USD ($)	Jan. 17, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Statement1 [Line Items]
Proceeds from sales of property plant and equipment							$ 16,000	$ 298,000	$ 21,000
Senior Secured Credit Facility Six [Member]
Statement1 [Line Items]
Number of vessels to be pruchased							11
Senior Secured Credit Facility Six [Member] | Grindrod Shipping Pte Ltd [Member]
Statement1 [Line Items]
Debt instrument face value			$ 114,100,000
Borrowings Availed [Member] | Senior Secured Revolving Credit Facility With Nordea Bank Singapore Branch [Member] | Grindrod Shipping Pte Ltd [Member]
Statement1 [Line Items]
Line of credit maximum borrowing capacity			83,000,000
Line of credit additional facility eligible			$ 30,000,000
Period over which the additional faciltiy may be availed			36 months
Proceeds from non current borrowings		$ 83,000,000
Number of vessels to be pruchased | vessels			8
Loan Facility Availed [Member] | Loan From IYO Bank [Member]
Statement1 [Line Items]
Debt instrument face value					$ 20,200,000
Ships [member] | Other disposals of assets [member] | IVS Kingbird [Member]
Statement1 [Line Items]
Proceeds from sales of property plant and equipment						$ 10,395,000
Ships [member] | Other disposals of assets [member] | IVS ibis [Member]
Statement1 [Line Items]
Proceeds from sales of property plant and equipment				$ 11,700,000
Ships [member] | Other disposals of assets [member] | IVS Naruo [Member]
Statement1 [Line Items]
Proceeds from sales of property plant and equipment	$ 22,500,000
Ships [member] | Vessel Sold And Chartered [Member] | IVS Naruo [Member] | Option To Purchase The Ship Sold And Chartered [Member]
Statement1 [Line Items]
Capital commitements not contracted for	$ 25,000,000
Ships [member] | Vessel Sold And Chartered [Member] | IVS Naruo [Member] | Bottom of range [member]
Statement1 [Line Items]
Period of charter of the vessel	11 months
Ships [member] | Vessel Sold And Chartered [Member] | IVS Naruo [Member] | Top of range [member]
Statement1 [Line Items]
Period of charter of the vessel	13 months
Ships [member] | Acquisition Of A Ship [Member] | HB Imabari [Member]
Statement1 [Line Items]
Final payment made to acquire ship					$ 20,200,000