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Mercator: Thinking big and failing
Dec 29:   Mercator was a small Indian company that dreamt big but failed
8The company is now de-leveraging rapidly. It sold off its bleeding bulk cargo business.
8It has now struck a deal to sell its MOPU, deployed in the EBOK oil field, Nigeria
8The company is for now sticking to its core areas of dredging and lending its tankers on dedicated basis to the oil marketing companies for coastal trade
8It is also hanging on to its Cambay blocks, where production is meant to start in Q3, FY 2018
8Merator struck some controversial deals with ONGC and OIL. With ONGC, it picked up the Sagar Samrat modification project that has missed the delivery timeline by a few years.
8OIL India Ltd struck a collaboration with Mercator for an oilfield in Myanmar.
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