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Corporate Overview |
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Chairman's Desk Dear Shareholders, At the outset; it has been yet another eventful year at Mercator; fast tracking growth and sustain ability by exigent expansions and prudent diversifications. Your company undertook expansion to broad base offerings to the customers; and diversification to take on newer opportunities on the horizon. May I share with you the firsts, Mercator embarked upon this year. Your company forayed into Dredging – another highly promising sector; and integrated backwards by diversifying into coal mining. Opportunities in these areas are infinite; will ensure growth over medium to even long term. The offshore segment appears firmer, having employed one jack-up rig already. Our customer base is rapidly growing and diversifying; there is a definite and considerable shift from Indian majors to the companies of international repute; to name but a few are; Arcelor Mittal, Unipec, Petronas, Glencore and North China etc. One of our vessels; Prem Mala has received “highest ratings” from Dorado Pool, we take it as a humble reward from our happy customers. In shipping segment, the fleet expansion continued this year as well keeping the tradition of growth. Our consolidated capacity increased by 15% to 2.34 Million DWT. In addition to the capacity; the type and age of vessels were once again rationalized to improve market access. Your company demonstrated a solid all round performance; top line growth being 39% and bottom line grew by about 196%. Mercator Lines (Singapore) Ltd – the Singapore based subsidiary got listed on main board of Singapore Stock Exchange successfully this year after maiden IPO, raising USD 143 million. It is already the second largest shipping company in Singapore now; obviously the numbers are simply indicative. Our customer base has been growing continually. Several names of international repute find mention on our order books; such as Arcelor Mittal; Cosco and Petronas to name but a few. Your company continued its pursuit to continually improve and remain a world class organization by recognizing human capital as its real assets. A holistic and systemic approach has been taken to spearhead sustainability initiatives towards ensuring safety, quality, our responsibility towards environment and society at large. We shall continue to endeavor, in all possible ways, to constantly and consistently return long term value to you, our shareholders. We truly realize the enormity of responsibility arising out of your unwavering support and confidence bestowed on us. We are sure of the path and the direction your company is headed towards. Thank You, Yours sincerely,
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