Laskaridis family of Greece, bought a post-panamax bulk carrier 2010 built 92K DWT M/V Zeus (ex M/V Chitra Prem) for $9.8m from Mercator Lines Singapore. Laskaridis sister company Lavinia Corp bought the bulk carrier. Even though Laskaridis family prefers expanding with newbuildings, they are now attracted by rock bottom prices for used bulk carriers. Laskaridis family is fleet consists of around 30 bulk carriers. In April 2016, Singapore-listed Mercator Lines declared not to continue operating the ships due to its liabilities. Mercator Lines appointed two liquidators after creditor Malayan Banking (Maybank) enforced its security over a ship at the end of 2015. The debt burden on Mercator Lines Singapore’s fleet is so severe that creditors forcing the disposal of around all ships.