Mercator has entered into a Memorandum of Agreement with Best Oasis, Hong Kong to sell its vessel M. V. Vrinda for a total consideration of $4.25 million. The transaction is expected to be completed by April 6, 2018, subject to necessary approvals. The proceeds of the sale would be used to repay debts of the company.
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.
