Mercator orders 2 new vessels

MUMBAI: Shipping major Mercator Lines is increasing its fleet of dry bulk vessels, seeing the increasing demand from India and China. The company, through its fully owned subsidiary in Singapore, has put an order for two new dry bulk vessels of 84,000 tonnes each, for a total of $125 million.

“The demand for such vessels is increasing, mainly for the transportation of iron ore and coal products from Indonesia to China and India,” said Jayesh Doshi, chief financial officer, Mercator Lines.