Struggling Mercator Lines sells another vessel to reduce debt
After selling five ships in January.
Mainboard-listed Mercator Lines has inked an agreement to sell another vessel in an attempt to reduce its debt.
The MV Kalpana Prem will be sold for US$2.9 million to a third party. It is expected to be delivered in April.
Mercator Lines was placed under judicial management in January. Separately, its judicial manager also revealed that HSH Nordbank AG Singapore has filed a winding up application against Mercator's subsidiary Varsha Vidya.