Mercator Lines Limited, India ’s 2nd largest private sector shipping company (in terms of tonnage) has acquired 1993 built MR Tanker of 42,235 DWT. Similar type of vessel was acquired in December ’09. Cost of acquisition of both the vessels was about Rs 83 cr,

which was financed through mix of debt and internal accruals. Both the
vessels have been deployed gainfully immediately after acquisitions.

Further, the Singapore based subsidiary Mercator Lines ( Singapore )
Ltd. Listed on SGX has recently contracted to purchase a modern gearless
Panamax Dry bulk carrier for approximately Rs. 175 Cr. The vessel is
less than 3 years old, built in 2007 and has a capacity of about 74,483
DWT. The vessel is expected to join the fleet in April/May 2010 with an
attached charter with a reputed company for a period of 3 years of an
aggregate amount of about Rs. 110 cr.

Mercator Lines Limited, the second largest private sector shipping
company in India (by aggregate fleet tonnage capacity), has global
presence through its subsidiaries. The group has diversified interests
and has a presence in Tankers, Bulk Carriers, Dredging, Coal Mining;
Logistics and Offshore and presently owns or operates a fleet of 1 Rig;
15 dry carriers; 9 tankers and 4 dredgers. Mercator Lines has an
uninterrupted dividend record since its listing on the Stock Exchange in
1993.

Source: Mercator Lines Ltd.

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• Mercator acquires its second post-Panamax –

    Mercator Lines (Singapore) says the company has taken delivery of its second chartered-in Post Panamax Chanchai Prem yesterday. The Post Panamax vessel is a grearless bulk carrier, with capacity of about 93,270 dwt built in the Jangsu New Yangzijiang shipyard in China. This vessel has been chartered in for a period of

• Mercator Lines bags Rs 1000 cr contract

    Mercator Lines Limited, India ’s 2nd largest private sector shipping company (in terms of tonnage) has signed a long-term (7 years) Contract to Charter out a ‘Mobile Offshore Production Unit’ and a ‘Floating Storage and offloading Unit’ through its wholly owned subsidiary in Singapore . The charter is expected to

• Mercator Lines plans to buy six tankers used

    Mercator Lines, the second largest private shipping company, is planning to buy six second-hand tankers this year as the company is looking to expand its fleet by taking advantage of the prevailing low prices globally. In today’s market, these six ships would cost between Rs 400 crore and Rs 600

• Mercator scores first with $ 31 million in Sri Lanka to carry a lot of coal

    Mercator Lines has become the first international shipping company to bag a Sri Lankan coal supply contract. The Singapore-listed arm of Indian shipowner Mercator said it had entered into a $31m, four-year contract of affreightment (COA) with a state owned Sri Lankan company to transport 650,000 tonnes of coal from

• Mercator to extend dredging, bulk and tanker segments

    Mercator Lines is planning to increase its presence in a number of new markets including the bulk, tanker and dredging segments. Reports from India say Mercator Lines Ltd plans to expand in the dredging, bulk and tanker segments in the next 12-18 months

• Mercator to extend dredging, bulk and tanker segments

    Mercator Lines is planning to increase its presence in a number of new markets including the bulk, tanker and dredging segments. Reports from India say Mercator Lines Ltd plans to expand in the dredging, bulk and tanker segments in the next 12-18 months. Expansion in its coal mining capacity is

• Mercator Lines to buy Rs 460 cr to five tankers

    India’s second-largest private shipping company Mercator Lines is looking at adding four to five ships in the tanker segment over the next three months as prices of vessels have crashed up to 50% from their peak two years ago.

• Mercator Q3 earnings dive 57%

    India-focused dry bulk shipping company Mercator Lines (Singapore) saw net profit fall 57 per cent to US$7.53 million for its fiscal third quarter ended Dec 31, 2009, from US$17.56 million for the same quarter the previous year.

• Mercator Lines set the target of a $ 5 billion company

    It all started with an idea floated by a co-passenger in a flight. Harish K. Mittal, owner of India’s second largest private shipping line, does not remember the passenger’s name, but his suggestion on starting a shipping firm way back in the early 1980s stuck in his mind

• Shippers are looking buoys in drier Lines

    Eye stable revenue from non-core segment due to business’ cyclical nature. Mercator Lines, India’s second largest shipping company, best known for its largest fleet of dry bulk carriers, became the biggest exporter of coal from Indonesia to India in November 2009, from its own mines