Intimation of Execution of Charter Party with M/s. Lamprell Energy Limited for Charter Hire of Vessel "SEAMEC PRINCESS"
SEAMECLTD · price
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Seamec Ltd has entered into a Charter Party agreement with Lamprell Energy Limited, Dubai for charter hire of their vessel 'SEAMEC PRINCESS'. The vessel will be used for offshore activities for Oil and Natural Gas Corporation (ONGC) in the West Coast Oilfield of India including Daman Field. The firm charter period is 15 days with an option for extension on mutually agreed terms. The total contract value for the firm period is approximately USD 2.12 million, exclusive of GST. The transaction is not a related party transaction and was disclosed under SEBI regulations.
This contract provides immediate revenue visibility for Seamec with a significant international charter agreement denominated in USD. The short 15-day firm period limits revenue certainty, though the extension option provides potential upside. The USD-denominated contract helps hedge against currency risk.