Owner looking to sell struggling bulk unit Mercator Lines

The controlling Indian owner of listed dry bulk carrier Mercator Lines is now trying to offload the unit after yet another major loss in 2015, informs the Mercator board of directors.

Photo: Mercator

Dry bulk carrier Mercator Lines, which is listed in Singapore, has been put up for sale by the carrier's controlling stakeholder, India's Mercator, informs the company in a statement on Monday.

The carrier booked a deficit after taxes of USD 125 million, and the company has been running at significant deficits for years during the protracted crisis in the dry bulk sector, according to the statement.

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