Marine transportation firm Mercator Lines Ltd on Tuesday said it has bagged a Rs 200 crore worth contract from Indian Oil Corporation for transportation of crude oil.
Commencing from July, Mercator would transport approximately 12 million tonnes of crude over a period of 15 months, the company said in a filing to the Bombay Stock Exchange.
Earlier in May, the company had entered in into Memorandum of Agreements for about Rs 1,000 crore for acquiring four Dry Bulk Vessels, weighing 3,05,000 dead weight tonnage (DWT) in total, through its subsidiary Mercator Lines (Singapore) Pte Ltd.
Shares of the company gained 2.61 per cent in intra-day trading and closed at Rs 47.25 on the BSE.
Commencing from July, Mercator would transport approximately 12 million tonnes of crude over a period of 15 months, the company said in a filing to the Bombay Stock Exchange.
Earlier in May, the company had entered in into Memorandum of Agreements for about Rs 1,000 crore for acquiring four Dry Bulk Vessels, weighing 3,05,000 dead weight tonnage (DWT) in total, through its subsidiary Mercator Lines (Singapore) Pte Ltd.
The vessels are expected to join the fleet of the company in June-July.
Shares of the company gained 2.61 per cent in intra-day trading and closed at Rs 47.25 on the BSE.
