Seamec Limited has informed the Exchange about execution of Bimco Charter Party with M/s. Mubarak Bridge LLC for Charter Hire of Vessel SEAMEC III
SEAMECLTD · price
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Seamec Limited has signed a Bimco Charter Party with Dubai-based Mubarak Bridge LLC to charter its vessel 'SEAMEC III.' The vessel will carry out 24-hour DP2 saturation diving, ROV support, survey, and subsea crane operations along India's West Coast. The firm charter period is 20 days at USD 70,000 per day, with an option to extend, bringing the total estimated contract value to USD 2.16 million (around ₹19 crore) excluding GST, inclusive of mobilization and demobilization. The charter commenced on June 5, 2025, and the counterparty is an international, unrelated entity, making this a normal-course-of-business deal.
This is a short-term, USD-denominated contract from a foreign client that provides incremental revenue and supports utilisation of SEAMEC III. Positive for near-term earnings, though the 20-day firm period with only optional extensions limits long-term revenue visibility.