Mercator Ltd. Sells VLCC for 27.5 Million USD


According to a letter issued on 30th April, 2019, the company Mercator Ltd. has announced plans to sell their vessels as a part of their strategic plan, reports the Hindu Business Line.

  • The company has sold their Very large Crude Carrier – Nerissa (VLCC), built 2006, for a total consideration of USD 27.5 Mn (Net).
  • The proceeds of this sale is being used to reduce the debt and other liabilities of the company.
  • The buyer does not belong to Promoter/ Promoter Group Companies.
  • The aforesaid transaction does not fall within the definition of related party transactions and not a material related party transaction.

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Source: The Hindu Business Line


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