By Elena Vardon

Shares in Mercantile Ports & Logistics rose 17% on Thursday after the corporate stated it signed a five-year settlement with Lucky Marine Shipping & Logistics to deal with containers at its facility in India.
At 0745 GMT, shares had been up 0.68 pence at 4.60 pence.

The London-listed firm stated that underneath the settlement with its subsidiary Karanja Terminal & Logistics Private, Lucky Marine will ship volumes of no less than 1,000 twenty-foot equal items (TEUs) a month by the tip of 2023, growing to no less than 2,500 TEUs a month by the tip of 2024 and to no less than 3,500 TEUs by the tip of 2025.
The remaining income underneath this contract might be pushed by volumes and the extent of providers utilized by the shopper, stated the group.
Container operations at Karanja are anticipated to begin within the coming weeks, it added.
Write to Elena Vardon at elena.vardon@wsj.com