The period of the contract is four years, Mercator said in a filing to BSE. It will commence from the next month.
"One of the company's vessels has secured a time charter contract of total value of about Rs 120 crore," it said in a BSE filing.
Mercator, one of the country's diversified conglomerates, has interest in coal, oil and gas, shipping and dredging. The company owns and operates a variety of shipping fleet ranging from crude, gas, petroleum product and bulk carriers.
It also provides coal trading and coal logistics solutions.
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