1993, it has grown in terms of financial parameters like turnover, profits, tonnage and market capitalization. Presently the shares of the company are listed on Mumbai Stock Exchange and National Stock Exchange. During April 2005, the Company completed its first international offering of Foreign Currency Convertible Bonds aggregating US$60 mn. The issue is listed on Singapore Stock Exchange. The company also added new business segment namely offshore drilling with acquisition of Jack-Up Rig. The rig received ahead of its schedule; was deployed immediately upon delivery in March 2009; for a period of three years on firm bare boat charter. The group has opted out of the offshore drilling segment w.e.f. March 2011 as strategic decision. The company also forayed into dredging and presently owns a sizeable fleet. Mercator Group has also acquired economic interest in coal mines in Mozambique and Indonesia with substantial coal resources; as a measure of backward integration to strengthen its shipping activities and to meet the huge energy demand in India. The commercial operations in Indonesia have already commenced. Tankers Mercator commenced its Wet Bulk business in 1998 by acquiring the vessel M. T. Richa (9,750 DWT) and entered into crude oil transportation in 2003. In a very short span of time, it has grown to be amongst the major Indian companies in this segment. Mercator is the second largest tanker owners in the private sector in India in terms of tonnage. The company operates its fleet as a mix of spot contracts (single-voyage) and period contracts (fixed-term). The Company presently has a consolidated DWT of 760,189 tones for this segment. In addition to its usage for transportation of cargo, tankers can also be used as offshore storage facilities. The company has one such modern Aframax tanker on a long-term period contract. Mercator also is the first Indian company to have its complete Tanker fleet of double hull. Dry Bulk Carriers Mercator's Dry Bulk shipping business is handled through its Singapore listed subsidiary, Mercator Lines (Singapore) Limited (MLS). Commencing operations in 2005, it has established a market presence in the Indian coal transport market, specializing in the transportation of dry bulk commodities, such as coal into India from Australia and Indonesia; and iron ore from India to countries such as China. Mercator's network strength in the Indian markets helps maximize the capacity usage efficiencies by utilizing its ships on the triangular route of Indonesia – India