.. subcription
    .. rss channels
    .. press releases
    .. contacts

            october 18, 2019

.. in english  .. по-русски  .. latviski    

LKW Walter


Busworld 2019

  .. sitemap ..

  .. publications ..

  .. news ..

  .. advertisement ..

LKW Walter
LKW Walter Rus
  .. partners ..


Mercator reports inpressive growth in revenue


Mercator Lines Limited, India’s 2nd largest private sector shipping company, has posted impressive results for the year ended March 2009 (FY 2009).
The summarized consolidated financial performance is as under:
                                        Current Year 2008-09            Previous Year   2007-08    % change
                                        (Rs. In crores)                        (Rs. In crores)

Income from operations   2210.51                                 1476.85                              +50
EBIDATA                             984.78                                   682.23                              +44
Interest                             166.32                                   144.64                               +15
Depreciation                      268.71                                   167.49                               +60
Profit before Tax                475.21                                   409.35                               +16
Taxation                                8.18                                       9.02                                  -9
Profit after Tax                   467.03                                   400.33                               +17
Cash Profit                         735.74                                   567.82                               +30

TCE (Time Charter Equivalent) rate per vessel per day increased by 4% to US$ 39,966/- and total no. of vessel operating days increased by 18% to 4499 days in respect of dry carriers, for the year ended 31st March, ’09.  
TCE (Time Charter Equivalent) rate per vessel per day increased by 19% to US$ 27,976/- though total no. of vessel operating days reduced by 12% to 4196 days in respect of tankers, for the year ended 31st March, ’09.
Mercator Lines owned fleet grew from 20 to 24 during the year ended 31st March 2009 with 26% increase in DWT. During the year, Mercator Lines also commenced offshore drilling operations of its maiden Jack-up Rig. Mercator Lines own fleet now comprises of 12 tankers with a combined capacity of 1373,508 dwt, 12 dry bulkers with a combined capacity of 898,343 DWT; 4 dredgers with a combined capacity of 31,854 CBM and a 350 ft. Jack-up Rig.   
As at March 31, 2009, the Group maintained a strong balance sheet and working capital position with approximately Rs. 878 Crores cash and cash equivalents. In line with its good results, MLL Board of Directors have proposed a dividend of 50%.  
During the year, the company has commenced offshore drilling operations by taking delivery of its new built 350 ft. Jack-up Rig from the date of its delivery i.e. mid of March 2009 running on a three year contract.  The coal mining activities in Indonesia also commenced and generated revenue of Rs. 77 Cr.   
At Mercator, evaluation and assessment of market condition is a continuous process.  After analyzing huge potential in very large sized dry bulk, the company converted its Very Large Crude Carrier (VLCC) into a Very Large Ore Carrier (VLOC), which is the largest in India.  The said VLOC has been deployed on 14 years consecutive voyage contract with an international Iron Ore Major.  This is in line with the company’s policy of deploying vessels on long term charter.  
During the year, one of the Indian subsidiaries of the Company, Mercator Petroleum Pvt. Ltd. signed an agreement for 2 oil blocks in Cambay basin in Western India with Government of India under NELP-VII programme.  

.. search ..