Mercator Lines Limited has signed 7 year contract to charter out a mobile offshore production unit and a floating storage and offloading unit through its wholly owned subsidiary in Singapore.

As per report, the charter will come into force from September 2010. The estimated value of the contract is about USD 225 million.

Recently, Mercator also signed 5 year contract with BG India to charter out a floating storage and offloading unit. Mercator believed that market conditions have improved for the shipping, oil and gas and logistics sector and that it is well positioned to honor its commitments and explore further growth opportunities.

It has global presence through its subsidiaries. The group also has a presence in tankers, bulk carriers, dredging, coal mining, logistics and offshore. At present, the company owns or operates a fleet of 1 rig, 15 dry carriers, 10 tankers and 4 dredgers.

(Sourced from Exim News Service)