Mercator Lines (Singapore) says it has agreed to purchase a gearless Post Panamax dry bulk carrier for US$45.5 million ($59.3 million) through its newly incorporated 100% subsidiary Chitra Prem. The vessel, built in 2010 has a capacity of about 92,500 dwt.
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. This acquisition is proposed to be financed through a mix of internal accruals and debt.
The vessel comes with an attached charter for a period of 6 years, which would bring in revenues of about US$47 million.
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