Asia

Mercator offloads shipmanagement subsidiary

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]

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