| Sources said Mercator Lines had outbid leading domestic shipping companies in a competitive bidding to bag this deal. |
| "This is a one year contract to carry crude of eight million tonne for MRPL. The crude will transported from Arabian Gulf to MRPL's refinery," said industry sources. |
| When contacted, senior company executives declined to comment on the matter. |
| The company will have to transport six to seven parcels with 85,000 tonne to 90,000 tonne per voyage. |
| According to shipping industry analysts, Meractor Lines would have to deploy 5 to 6 Aframax tankers to ferry crude for MRPL. |
| "Mercator Lines could deploy three Aframax tankers for this project. However, they will have to charter three more tankers from India or overseas for crude carriage," a source said. |
| Sources said that the company might acquire two Aframax tankers in the light of upcoming crude transportation contracts from oil companies. |
| "This Rs 250 crore contract will have a positive impact on the turnover of the company. The turnover of the company at present is over Rs 800 crore and this contract could give 30 per cent growth to the company," market sources said. |
| The company, at present, has a fleet size of 22 vessels, including one very large crude carrier, one Suezmax, two medium range tankers and seven Aframax tankers. |
| The tonnage of the company is deployed either on time charter contracts or on spot contracts of affreightment with services such as floating, storage and offtake operations (FSO). |
| The company has posted a net profit of Rs 58.68 crore for the quarter ended December 31, 2005 while the turnover was at Rs 282.38 crore. |
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