Mercator adds a post panamax vessel to its fleet
Tuesday, November 23 2010 - 05:00 AM WIB
Indian Shipping firm Mercator Lines (Singapore) Limited announced on Tuesday that it has entered into a Memorandum of Agreement (MOA) for the purchase of a young and modern gearless Post Panamax dry bulk carrier for approximately US$ 45.5 million through its newly incorporated 100% subsidiary Chitra Prem Pte Ltd.
The vessel, built in 2010 has a capacity of about 92,500 DWT.
As per the MOA entered into with the seller, the vessel is due to be delivered in December 2010/ January 2011 which will expand the Company`s owned fleet to 14 vessels with an aggregate capacity of 1.3 million dwt.
The vessel comes with an attached charter with a reputed company for a period of around 6 years, which would bring in revenues of about USD 47 million, the company said without giving further detail. (alex)