Mercator Lines bulker sold off for $2.93m

Mercator Lines bulker sold off for $2.93m

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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