Mercator Lines, which is primarily into shipping of oil all across the globe, will be expanding its business horizon by foraying into the chemical transportation segment.
The company, through its recently launched Singapore subsidiary, Mercator Lines Singapore, will be acquiring three chemical tankers at a total cost of USD 65 million, sources told Business Line. The chemical tankers, being built in a Korean shipyard, are expected to join the company’s fleet in 2008 and 2009. While two of the tankers will be of 19,500 DWT capacity, the third one will be slightly smaller at 11,500 DWT.
Last year, the company forayed into dry bulk operations and more recently launched another subsidiary, Mercator Offshore Ltd, marking its entry into the offshore segment.