Mercator Lines sells 5 vessels for US$32.2m

The vessels will be delivered by February.

The shipping company has secured the sale of five vessels to syndicate lenders at market value for a total of US$32.2m.

According to a press release by Mercator, M.V. Sri Prem Veena, M.V. Garina Prem, M.V. Garv Prem, M.V. Gaurav Prem, and M.V. Aarti Prem were sold on an arms-length basis to related companies of the cyndicate lenders.

Furthermore, Mercator says the vessels are expected to be delivered to the purchasers by February this year.

“The Purchasers are unrelated to the current and former Directors and controlling shareholder of the Company. Save as disclosed above, none of the current and former Directors or the controlling shareholder of the Company has any interest, direct or indirect, in relation to the sale of the Vessels,” Mercator said.