Mercator has sold its vessel Prem Poorva for total consideration of Rs 24.70 crore to Natalia Shipping and the proceeds would be used to repay the debts. The deal was concluded on October 9, 2017.
Recently, the company had bagged a maintenance dredging Contract from Mormugao Port Trust (Goa). The contract value of this award was Rs 15.8 crore which was expected to be completed in FY18.
Mercator is one of India's largest private sector Dredging Company. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.