Seamec Limited Secures USD 19.02 Million Charter Hire Contract for Vessel SEAMEC II
Seamec Limited entered a Bimco Charter Party with G R Infraprojects for its vessel "SEAMEC II". The 180-day contract, with extension options, is valued at approximately USD 19.02 million (₹158.7 crore approx.) and will deploy the vessel for subsea installation. The charter is set to commence between October 15-31, 2026.
The contract value of USD 19.02 million is substantial and will contribute to the company's revenue, but it is for a specific vessel and a defined period. The impact is considered medium as it doesn't represent a fundamental shift in the company's overall business model or market position.
The announcement details a new contract win for the company, which is expected to generate significant revenue, indicating positive business development.
Seamec Limited has announced the execution of a Bimco Charter Party agreement with M/s. G R Infraprojects Limited. The agreement is for the charter hire of the company's vessel, "SEAMEC II", which will be deployed for subsea installation works in the Part Replacement Pipeline (PRP-8A) and DSF 2 Project of Oil and Natural Gas Corporation Limited (ONGC).
The subcontract has a tenure of 180 days, with an option for extension on mutually agreed terms. The charter is expected to commence within the window period of October 15, 2026, to October 31, 2026.
The total value of this subcontract is approximately USD 19.02 million, exclusive of GST. This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that M/s. G R Infraprojects Limited is not a related party.
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