Seamec Limited has informed the Exchange about Addendum to Charter Party dated Feb 3, 2025 with Safeen Al Behar Company Limited
SEAMECLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Seamec Limited has signed an addendum to its charter party with Saudi Arabia-based Safeen Al Behar Limited Company for the vessel SEAMEC SWORDFISH. The original charter was expected to start between March 1 and March 30, 2025, but due to unavoidable circumstances, the vessel could not be mobilised on time. Under the addendum dated May 21, 2025, the charter hire has now commenced from May 21, 2025 at 13:55 hrs. The 730-day firm charter period and total contract value remain unchanged from the original February 2025 agreement. The parties are unrelated to Seamec's promoter group, and there is no related-party transaction.
Neutral to mildly negative for shareholders — the two-month delay in charter commencement means lost revenue in the March-May window, but since the total contract value and 730-day duration are unchanged, the long-term earnings impact is limited.