Seamec bags USD 43M charter contract with HAL Offshore for vessel Agastya
SEAMECLTD · price
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Seamec Limited signed a charter hire contract with HAL Offshore Limited for its multi support vessel SEAMEC AGASTYA. The vessel will be deployed under an ongoing ONGC contract for 4 years at USD 25,000 per day. Total contract value is around USD 43.07 million including GST. HAL Offshore holds 70.77 percent in Seamec, making this a related party transaction done at arms length and in normal course of business.
Multi-year USD charter gives strong revenue visibility, but deal with promoter HAL may draw governance and related-party scrutiny from investors.