Asia/Pacific News
Former Mercator Lines Bulker Sells for $4 Million at Auction
Monday January 30, 2017
India's Bombay High Court has sold a former Mercator Lines bulk carrier, TradeWinds reports.
Garv Prem, a 74,000 DWT Panamax, was sold for $4 million as a result of a court order for its auction on October 7, 2016
Creditors are noted to have 90 days to make a claim on the sale.
As Ship & Bunker reported last year, Garv Prem was one of five bulk carrier vessels that Mercator Lines agreed to sell to creditors in January 2016 under five separate memoranda of agreement.
Data from VesselsValue places Garv Prem's market value at $7.47 million, and lists the vessel's buyer as unknown.
