Singapore: Mercator Lines (Singapore) has sold its shipmanagement arm, Target Ship Management, for S$128,709. The Indian company did not disclose who had bought the company.
“The transaction is not expected to have a material effect on the consolidated net tangible assets per share and earnings per share of the company for the current financial year,” Mercator said in a release on Friday.
According to its site, Target currently manages 13 bulkers of different sizes all for Mercator. [18/03/13]