Seamec Limited has informed the Exchange about Addendum 02 with Posh India Offshore Private Limited for Charter Hire of Vessel SEAMEC PRINCESS
SEAMECLTD · price
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Seamec Limited has signed Addendum 02 to its existing subcontract agreement with Posh India Offshore Private Limited for charter hire of its vessel 'SEAMEC PRINCESS'. The vessel will be used for installing concrete mattresses in ONGC's Pipeline Replacement Project VIII (PRP-VIII Gr. B) and Daman Upside Development Project (DUDP). The charter hire rate is set at USD 37,000 per day, exclusive of GST. The original subcontract was dated 20th March 2025, and this addendum was executed on 1st April 2026. The filing confirms the transaction is in the ordinary course of business and is not a related-party deal.
This is an amendment to an existing vessel charter contract and not a fresh order, so the direct impact on stock price is limited. However, it confirms continued vessel deployment and revenue visibility from ONGC-linked projects, which is mildly positive for the company's offshore services business.