Singapore-based international dry bulk shipping company Mercator Lines will purchase a modern, gearless post-Panamax dry bulk carrier for about $45.5m through its subsidiary Chitra Prem.

The 92,500dwt carrier will expand the company’s fleet to 14 vessels with an aggregate capacity of 1.3 million dwt.

Under the deal with an unnamed seller, the vessel is due to be delivered in December 2010 or early January 2011.

The company said the vessel comes with an attached charter for a period of around six years, which would bring in revenues of about $47m.