AsiaDry Cargo

Mercator Lines to be wound up

The bust Singapore dry bulk offshoot of India’s Mercator Group will be no more come Friday.

Mercator Lines (Singapore) went into judicial management in January last year, with debts of more than $165m with its fleet then being hived off to pay back creditors.

The judicial manager held preliminary discussions with several potential investors to explore transferring the company’s listing status and/or restructuring the company. However, these discussions went nowhere and now the judicial manager has sought to wind up the company with the hearing date for the winding-up application fixed for Friday.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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