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Our Bureau

Mumbai , Nov. 23

MERCATOR Lines Ltd, the third largest private shipping company in India operating in the liquid bulk segment, has executed a Memorandum of Agreement to acquire a second-hand Suezmax tanker of about 1.50 lakh DWT.

The vessel is expected to join the company's fleet in February.

With this acquisition, the company's tonnage will cross the one million DWT mark.

The company has decided to split the face value of equity shares from Rs 10 to Re 1 each. During the first six months of the current fiscal, the company's income from operations was Rs 221.85 crore and net profit Rs 52.29 crore, against Rs 73.72 crore and Rs 11.20 crore, respectively, in the corresponding period of last fiscal.

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