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Mercator: Headed for another split?
Aug 18:
Mercartor seems to be headed for a gloomy patch following a loss reported in Q-1.2017
8The group’s dredging business has been affected by the dry docking of two of vessels, scheduled to come back into service in July. It was also hampered by a transitional phase after the completion of the Kandla Port project in April. During Kandla’s shift into operation, Mercator decided to explore higher margin opportunities instead of renewing existing contracts at depressed rates.
8In the shipping division, the tanker fleet was hit by lower volumes owing to production cuts announced by OPEC, with charter rates for very large crude carriers falling sharply.
8The company is now thinking of splitting up its business, which also involves coal handling, E&P and ship conversion among others, to stay viable
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8The group’s dredging business has been affected by the dry docking of two of vessels, scheduled to come back into service in July. It was also hampered by a transitional phase after the completion of the Kandla Port project in April. During Kandla’s shift into operation, Mercator decided to explore higher margin opportunities instead of renewing existing contracts at depressed rates.
8In the shipping division, the tanker fleet was hit by lower volumes owing to production cuts announced by OPEC, with charter rates for very large crude carriers falling sharply.
8The company is now thinking of splitting up its business, which also involves coal handling, E&P and ship conversion among others, to stay viable
Click on Reports for more
