Mercator Lines
Mercator Lines has signed a deal to acquire a double hull, modern very large crude carrier (VLCC). The said company is expected to join Company’s fleet in June’08. The company currently operates a fleet of 29 vesels.
During 2008-09, the company has signed MOA to acquire 2 Panamax sized Dry Cargo vessels, as also 1 no.THSD Dredger. Thus, the total investment committment of Rs130mn from April till date has been made by the company.
The company has also acquired economic interest in a coal mine in Mozambique with coal resources of about 3bn. tonnes and coal resources about 15mn, tonnes in Indonesia, as a measure of backward integration to strengthen its shipping activities and to meet the huge energy demand in India
