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Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
 COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen dry bulk vessels including thirteen owned ships focused on high growth markets such as India, Indonesia and China, according to announced financial results for the third quarter of Financial Year 2013-2014 ending 31st March 2014 (Q3 FY 2014).
Revenue at US$23.2 million is an increase of 8 per cent as compared to Q2 FY 2014 and 67 per cent as compared to Q1 FY 2014.
According to company, the EBITDA of company at USD 7.4 million an increase of 52% as compared to Q2 FY 2014 and 119% as compared to Q1 FY 2014. the company said in its press release, EBITDA margin has increased to 32% in Q3 FY 2014 from 23% in the previous quarter.
The revenue for nine months ending 31 December 2013 was at USD 58.5 million as against USD 84.2 million in the corresponding period previous year. The balance sheet has improved with a lower debt to equity ratio of 0.59 times as at 31st December 2013 as compared to 0.61 times as at 30th September 2013, company said in its press release.
The dry bulk shipping industry is continuing on its path to recovery. By the end of 31 December 2013, the Baltic Dry Index (BDI) had reached 2277 points from 896 points at the start of the financial year, Mercator says in its press release posted on its website. The market rate of Panamax vessels stood at US$ 14,556 per day on 31 December 2013 as against USD 9,238 per day at the start of the financial year. The vessel values have also strengthened significantly since the start of the financial year. The value of a 5 year old 76,000 DWT dry bulk Panamax vessel was approximately USD 26.0 million by end of Q3 FY 2014 as against approximately USD 19.0 million at the start of the financial year. All these factors indicate signs of long impending recovery in the dry bulk shipping industry.
“We are happy to see a continuous trend of improved financials on a quarter on quarter basis in this financial year. Significant improvement in market fundamentals and cost rationalization measures adopted by the Company has helped us achieve better results”, Said Mr. Shalabh Mittal, Managing Director and Chief Executive Officer of Mercator,
About Mercator Lines (Singapore) Limited
Mercator, which commenced operations in 2005, has established a market presence in the dry bulk transport market, specializing in the transportation of dry bulk commodities such as coal, iron ore and grains.
Mercator operates a fleet of fourteen dry bulk vessels, thirteen owned and one chartered-in, comprising of geared and gearless Panamaxes/Post Panamaxes/Kamsarmaxes with an aggregate capacity
of about 1.1 million dwt as on December 31, 2013.
Its ultimate parent company, Mercator Limited (“ML India”), has diversified business interests in Coal, Oil & Gas services, Commodity Transportation and Dredging. ML India owns and operates Coal Mines in Indonesia. Coal Mining, procurement and logistics contribute more than 50% of Mercator group revenues.
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Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- PTC India Limited - India
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