Mercator Lines, the second-largest private sector shipping company, has signed a memorandum of agreement (MoA) to acquire a 1993-built medium range (MR) product tanker of about 42,235-DWT, the company said in a filing to the BSE.
The tanker is expected to join Mercator’s fleet this month.
The group has a presence in tankers, bulk carriers, dredging, coal mining, logistics and offshore.
Mercator owns and operates a fleet of 15 dry carriers, 10 tankers, four dredgers and one rig. It reportedly plans to invest around Rs 200 crore to buy 4-5 tankers in a year or two, Exim News Service informs.