AsiaDry Cargo

Mercator Lines bulker sold off for $2.93m

Photo of Jason Jiang Jason JiangMarch 31, 2016
6 Less than a minute

Singapore-listed Mercator Lines has announced that its judicial manager has entered into a memorandum of agreement for the sale of 2000-built 38,906 dwt bulker Kalpana Prem.

The vessel was sold on an arms-length basis to a third party for around $2.93m, reducing the debt owing to major shareholder Mercator International.

The vessel will be delivered during April 2016.

Mercator Lines filled for bankruptcy in January after announcing it was exiting the dry bulk market.

Photo of Jason Jiang Jason JiangMarch 31, 2016
6 Less than a minute
Photo of Jason Jiang

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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