Mercator Lines of India continues to expand with the planned $14m acquisition of an 18-year-old Shell tanker.
It has followed up its recent $44.8m purchase of the single-skin, 280,000-dwt VLCC Musashi Spirit (built 1993) from Teekay with a deal with the oil major for a 100,000-dwt tanker, according to Bloomberg, quoting Mercator joint managing director, Atul Argawal.
Mumbai-quoted Mercator has a fleet of 18 ships including aframax tankers.
