Mercator vessel bags Rs 120-crore contract

Mercator today said one of its vessels has secured a time charter contract of a total value of about Rs 120 crore.
The period of the contract is four years, Mercator said in a filing to BSE. It will commence from the next month.
"One of the company's vessels has secured a time charter contract of total value of about Rs 120 crore," it said in a BSE filing.
Mercator, one of the country's diversified conglomerates, has interest in coal, oil and gas, shipping and dredging. The company owns and operates a variety of shipping fleet ranging from crude, gas, petroleum product and bulk carriers.

The Mercator group has also acquired economic interest in coal mines in Mozambique and Indonesia with substantial coal resources as part of its backward integration to strengthen shipping activities and meet the huge energy demand in India.
It also provides coal trading and coal logistics solutions.