Seamec Limited has informed the Exchange about execution of Bimco Charter Party with M/s. Mubarak Bridge Maritime FZCO for charter hire of Vessel SEAMEC III for working in West Coast of India
SEAMECLTD · price
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Seamec Limited has signed a Bimco Charter Party with Dubai-based Mubarak Bridge Maritime FZCO to hire its vessel SEAMEC III for operations on the West Coast of India. The work involves 24-hour DP2 saturation diving, ROV support, survey, and subsea crane operations. The firm charter period is 20 days, extendable at a rate of USD 70,000 per day, with total contract value estimated at USD 2.16 million including mobilization and demobilization. The charter commenced on 5th June 2025. The counterparty is an international entity with no related-party connection to Seamec's promoters or group companies, and the deal is in the normal course of business.
This is a modest, short-duration contract in US dollars from a foreign client, providing incremental revenue and better utilization of vessel SEAMEC III. Positive for sentiment as it confirms demand for the company's subsea/diving services, but the 20-day firm period limits its size relative to annual operations.