Mercator Limited Disposes of Tanker Oldie

As part of its strategic plan, India-based company Mercator Limited has decided to sell one of its vessels, Vedika Prem. 

The MR2 tanker has been sold for a total consideration of Rs 28.54 Crore (around USD 4.1 million) to an undisclosed buyer.

As informed, the proceeds would be used to meet the company’s debt obligation/liabilities.

Built at Minami Nippon shipyard in Japan in 1993, Vedika Prom has a capacity of 51,619 cbm.

The 42,200 dwt tanker, previously known as Dynamic Express, had been purchased by Mercator from MOL back in 2010.

According to data provided by VesselsValue, the ship is heading to Chittagong, Bangladesh, for demolition.