Date:16/03/2006 URL: http://www.thehindu.com/2006/03/16/stories/2006031604931610.htm

Business - Briefly

Mercator set to win shipping deal from MRPL

BANGALORE: Mercator Lines Limited (MLL) is set to win a Rs. 300 crore contract from Mangalore Refinery and Petrochemicals Limited (MRPL) for shipping 8.5 million tonnes of crude oil from the Persian Gulf to its refinery located in Mangalore. The deal entails moving 6-8 parcels a month (90,000 tonnes per parcel) from April 2006 to March 2007 at a World Scale rate of 137.50 that translates into $60-65 million (around Rs. 300 crore). "The deal is subject to approval from the board of MRPL, a subsidiary of ONGC Ltd," MRPL sources said.