According to the press, chemicals and energy group Sasol’s share price fell 3.02 percent to R409.26 on the JSE this week. This after the company announced an expected 44 percent drop in its headline earnings.
The company has attributed the fall to currency losses and a strike at its Secunda mining operations.
The NSRI were in action this weekend. According to the press three crew-members were rescued and treated for shock after their ski-boat, the Mi Lady, capsized off Strand Beach.
The three Strand residents were in the water for more than an hour before they were rescued.
In a separate incident two men, aged 44 and 53, were rescued from a sinking yacht that they were transporting from Durban to Mossel Bay. The NSRI were once again called to action. The rescue involved the use of an NSRI rescue vessel, as well as an NSRI rescue helicopter.
Also making headlines this week was a shooting incident between to suspected perlemoen smuggling gangs, which took place near Gansbaai, resulting in the death of one of the gang members.
It is suspected that the violence between the gangs broke out due to inflated pricing of poached perlemeon by one of the gangs.
Cape Town maritime enthusiasts were treated to a splendid sight this week, as the Queen Mary 2 visited Table Bay Harbour for a brief two-day visit.
According to the press the 14 year-old vessel is the world’s only operational ocean liner (not cruise liner) and was originally built in 2002 to replace the ageing Queen Elizabeth 2.
Grindrod Asset Management this week announced plans for a deal that would culminate in Infinitus Holdings gaining a 76 percent stake in Grindrod.
According to the press Infinitus is focused on high-growth businesses in the consumer, industrial and financial services sector.
Through its subsidiary GFS Holdings, Grindrod will exchange its entire Grindrod Asset Management for Infinitus shares.
GFS managing director, David Polkinghorne, said, “Grindrod is changing the way it holds its interest. This is an important step to free up the business to develop its own identity as Bridge Fund Managers pursue sensible growth opportunities while retaining its loyal client base. Grindrod will continue to support the business in every way.”
Also making headlines this week is the news that Transnet has initiated an investigation into complaints regarding the management of the training programme at its Marine School of Excellence.
According to a statement by Transnet executive head, Siyabonga Gama, the complaints are focused mainly on the issues of access to practical training and the duration of the programme.
Transnet has made a R7.7 billion investment in training over the next decade and with hopes to expand the maritime training academy.
This year marks the 100th anniversary of the sinking of the SS Mendi. More than 600 African labourers and 12 officers died in the tragedy. According to the press, the SAS Amatola will leave South african waters, in a relatively rare journey to European waters, on a special mission to commemorate the sinking of the SS Mendi.
The SAS Amatola will take part in naval exercises with the Royal and German navies and a ceremony will be held to commemorate the fallen vessel. Some relatives of the dead will be flown out to take part in the ceremony.
Also making headlines this week is the news that a R800 million project to build ships with China in an upgraded naval dockyard in Simon’s Town is on the cards, despite the navy requesting that the Chinese be kept out.
The project is being pushed by the council on defence and involves the reserving of a large share of the construction work for state arms manufacturer Denel and its Chinese joint venture partner, with Simon’s Town dockyard as a preferred construction site.
Also making headlines this week are concerns regarding the low numbers of successful prosecutions of perlemoen poachers in the Overstrand area.
According to the press between April and October 2016, 43 suspected poachers were arrested, but only five were successfully prosecuted.
Michael Cardo, DA-LP said that he is extremely concerned about the few successful prosecutions.
“A prosecution rate of 10 percent is too low. We need better law enforcement along with a holistic approach towards community development to ensure that perlemoen poaching is extinguished,” he said.
Also making headlines this week was the sad loss of Captain Rodney Young MBE. Captain Young was the highly respected Master of RMS St Helena. He was holidaying in Seychelles at the time of his death.