Mercator to Acquire Bulk Carrier

Singapore-based Mercator Lines has entered into an agreement to purchase a Japanese panamax dry bulk carrier for $22m.

The 69,087dwt vessel is expected to be delivered within the next two months.

The company said the vessel will help expand its fleet to 13 with an aggregate deadweight capacity of 1.2 million.

Mercator said the vessel was scheduled for a charter of 36-41 months, which would generate revenues of $14m over the next three years.