(1) As at 30 June 2010.
(2) Varsha Marine Pte. Ltd. owns the vessel Prem Varsha.
(3) Vidya Marine Pte. Ltd. owns the vessel Prem Vidya.
(4) Mercator Lines (Panama) Inc. holds residual rights in one Panamax time charter with T. Klaveness Shipping A. S. ("T. Klaveness") (effective June 2009).
Note: Mercator Lines Limited

Incorporated in Singapore in 2005, Mercator Lines (Singapore) Limited is a leading Indian-owned international dry bulk shipping company focusing on high growth markets such as India and China. It specialises in the transportation of commodities such as coal and iron ore to and from countries like India, Indonesia, China, Brazil, etc.

With the strong support of its ultimate parent company, Mercator Lines Limited ("MLL India"), the second largest private sector shipping company in India (by aggregate fleet tonnage capacity), Mercator also provides its customers with complete and customised logistics solutions from the load port to the point of usage. Some of its reputed customers include Tata Power, Arcelor Mittal Group, Vale, COSCO and Cargill.

Mercator operates a fleet of twelve owned and three chartered-in vessel, with an aggregate capacity of approximately 1.4 million dwt. Its owned fleet of Panamaxes is young and versatile with a mix of geared and gearless vessels averaging about six years of age. It continues to strengthen its position as largest fleet owner of Geared Panamaxes amongst the Indian-owned shipping companies through prudent fleet expansion plans.

Helmed by an experienced management team with in-depth understanding of the industry, a wide network of customer contacts and diligent risk management practices, Mercator has been able to make proactive business decisions and well-timed fleet expansion to achieve continuous growth since inception.