Mercator to acquire Aframax tanker

Mercator Lines has executed a memorandum of agreement (MoA) to acquire a 1,999-built, double hull coated Aframax tanker of about 1,09,610 DWT.

According to a release issued to the BSE today, the tanker is expected to join the company fleet in May 2005.

The board of directors will meet January 12, 2005 to consider & approve payment of interim dividend for the financial year March 31, 2005.