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Mercator Lines may acquire coal mine in Indonesia

20 Sep 2011 Evaluate

India's second largest private shipping firm, Mercator Lines, expects to acquire a coal mine in Indonesia in the next one week. The likely resources of the new coal mine is about 60 million tones and the deal will be valued roughly in the region of $25-$30 million. The company is also planning to list its coal division overseas.

Recently, the company’s Singapore subsidiary had successfully commissioned the Floating Production Unit (FPU) project with the production of oil from the EBOK field. The company had signed a 7 year contract to charter out Floating Production Unit to Afren PLC, UK at their EBOK field in Nigeria.

Mercator Lines is India’s second largest private sector shipping company. It is engaged in providing sea-borne transportation services. The company has diversified its business into coal mining.

Mercator Share Price

0.84 0.00 (0.00%)
10-Mar-2023 18:02 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 305.85
GE Shipping 1425.30
Dredging Corp 976.65
Seamec 1556.00
Shreeji Ship.Global 377.10
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