Mercator Lines - Worth another look now - 10% yield

It had recently fell back to it's March 2009's low again .
BDI although far from the peak but it has been climbing steadily up about 40% from the low point few months back .
 
Mercator lines's fleet utilization is at a high of 99.1%
NAV : 40cents . Debt/equity is low at 0.6x
Wholly own by parent company Mercator Limited ( India ) .

Mercator Lines (Singapore) Ltd strives to demonstrate high standards of performance and strong corporate governance. In April 2012, we were ranked 20th amongst the top 500 Singapore public listed companies according to the Governance and Transparency Index (GTI) jointly conducted by NUS Business School, Business Times and CPA Australia. We have for 4 consecutive years won awards under the Singapore Corporate Awards for investor relations and annual reports, validating our desire for better corporate governance and investor relations. We have been continuously ranked amongst the Singapore 1000, Singapore SME 500 and Singapore International 100 Companies by the DP Information Group. We have been also presented with prestigious "Global Entrepreneur of Year" 2010 from CNBC-TV18/ICICI Bank. In June 2012, we were placed 18th, from 20th place in the previous year, in overall performance amongst listed shipping companies in the world by Marine Money Survey.

Even Neptune Orient lines ( NOL ) staged a pretty rebound last week ; and it is a company operating in deep red loss .
NOL always fail to go below $1
So Mercator Lines deserves another look at this cheap valuation

NOL reported it's 3Q result today , and it managed to turnaround in Q3 with a $50 million profit compared to a year ago .... though YTD loss is still quite hefty

based in it's dividend paying policy since listing in Dec 2007
at current price , the yield is 10% . Or even at worst at about 8% yield
Worth to accumulate now . It can even beat all if not most of the REIT 's yield now

Deutsche Bank - the IPO issue manager for Mercator Lines , launched the IPO at 76 cents then.. raising approx $239.5 million
accumulate at these low price now . If infrastructure stimulus works its way in china and india , iron ore and coal and other commodities will drive up BDI