Mercator Lines, India’s second-largest private shipping company, has ambitions to grow as an energy player as shipowning takes a backseat.
The Mumbai-based owner, which owns six tankers and a very large gas carrier (VLGC), expects its oil and gas assets, and coal mining, to contribute over 80% of its total annual revenues.
“Our vision is now oil and gas and coal. Shipping will be our support arm,” executive chairman Harish K Mittal told TradeWinds.
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