Independent journal on economy and transport policy
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The Indian group Mercator places the fleet of ships on sale portarinfuse
The board of directors has decided the cession of the company Mercator Lines (Singapore) Ltd.
January 19, 2016
The Indian group Mercator, than work in the fields mining, of the oil and the gas, the services of dredging and marine transport of raw materials, it has announced the partial escape from this last segment of activity with the cession of the fleet of 15 ships to rinfusiere. The board of directors in fact has yesterday approved of the decision to on sale place the entire share capital of the Mercator Lines (Singapore) Ltd. (MLS), the branch with center to quoted Singapore and to the Stock exchange of Singapore that possesses and work the fleet of ships portarinfuse of the group.
The Indian group has explained that the decision to yield the activity is assumed in consideration of the negative phase crossed from the field of the marine bulk transport sand banks, that is the hit segment of the shipping more from the crisis, with the Baltic Dry Index that is come down from 11.793 points in 2008 to 373 on January 15, 2016 and it does not show signs of next future rise.
Moreover Mercator has evidenced that currently the MLS indebtedness piles to 10 billion rupees (147 million dollars) and the company has closed fiscal years 2013, 2014 and 2015 with a loss after the taxes pairs respective to 4,24 billion, 1,40 billion and 7,68 billion rupees and the first half of fiscal year 2016, finished 30th September, with a loss after the taxes of 1,36 billion rupees. Mercator has emphasized that such economic results have an impact negative on the budget of the group.
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The Indian group Mercator, than work in the fields mining, of the oil and the gas, the services of dredging and marine transport of raw materials, it has announced the partial escape from this last segment of activity with the cession of the fleet of 15 ships to rinfusiere. The board of directors in fact has yesterday approved of the decision to on sale place the entire share capital of the Mercator Lines (Singapore) Ltd. (MLS), the branch with center to quoted Singapore and to the Stock exchange of Singapore that possesses and work the fleet of ships portarinfuse of the group.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
