Mercator Share Price

On November 24, 1983, the private limited company Mercator Lines Limited (MLL), now the second biggest private sector shipping firm in India, was created as a participant in the maritime transportation market. Mercator Lines Limited is also known as "MLL." The company is also active in the offshore oil and gas industry through its many subsidiaries. Shipping (including Tankers (Wet Bulk), Dry Bulk Carriers, and Dredgers), Offshore Logistic Solutions, and Mining are the three primary categories that makeup MLL's business segments.

The firm operates various types of ships in its fleet, including bulk carriers, medium-range boats, Aframax vessels, and giant crude carriers (VLCC). MLL has been a trailblazer in the shipping industry by operating boats in previously uncharted rivers like the Tapti. As a result, new navigational channels have been created.

On April 3rd of that year (1984), MLL changed its status from that of a private limited company to that of a public limited corporation. In 1988, the firm was taken over by Mr. H. K. Mittal, the company's promoter. 1993 marked the Company's debut on the stock market with its first-ever public offering. In 1994, the company's cargo reached a level of 4,000 DWT at its peak. During 2005, the Company undertook a significant growth initiative, which added nine tanker boats at a total cost of Rs 13 Crores.

In 1996, the business purchased and began operating one micro tanker at the Power Station of BSES at Dahanu. The acquisition took place during that year. In 1998, despite facing up against the fierce competition, MLL was able to secure a contract with M/s. Indian Oil Corporation Ltd. for transporting bulk petroleum products along the East Coast. In 2000, the Company had already begun the process of dematerialization by signing an agreement for it with the Central Depository Service (India) Limited and the National Securities Depository Limited.

As part of the second phase of its growth program, Mercator purchased one used Aframax tanker with 94706 M/tons of Dead Weight Tonnage (DWT) in 2003. The Economic Times Awards for Corporate Excellence considered the company an "Emerging Company of the Year" candidate for two years running, beginning in 2003-04 and continuing through 2004-05. In February 2005, the influential financial journal Business Standard presented the 'Star Company of the Year Award' in the Small and Medium Sector (SME) to the company. This award was given out in the category of small and medium enterprises.

In the same year, 2005, Mercator signed a Memorandum of Agreement for rights of operating on Geared Panamax boats. This agreement granted Mercator some operating privileges. In March of 2005, Business Today's publication recognized MLL as the "Fastest Growing Small Company of India" across all industries. This accolade was given to MLL. The business successfully executed its first worldwide offering of Foreign Currency Convertible Bonds (FCCB) for USD 60 million in April of the same year, 2005. During the 2006-2007 school year, the Indian Coast Guard bestowed its "Award for Maritime Bravery" onto the firm's vessel, the M.T. Punita, and upon the company members. Despite having a new arrival into the Dry Bulk Segment in February of 2007, Mercator gained the distinction of having the giant Dry Bulk vessel over to stop at the Mumbai Port. This accomplishment took place in India.

During the 2007–2008 school year, MLL began its venture into the dredging industry by purchasing its fleet of dredgers and conducting its first Initial Public Offerings via a subsidiary that was then traded on the main board of the Singapore Stock Exchange. In March 2008, Mercator's Singapore-based subsidiary successfully secured a long-term charter deal with a prominent PRC maritime corporation. In May of 2008, the company signed a Memorandum of Agreement to acquire one double-hull Very Large Crude Carrier. Mercator Singapore received the YK Taurus and YK Titan in July of the same year (2008). Do you want to know about the Mercator Shares? Click Here to know about today’s Mercator Share Price.