Seamec Limited has informed the Exchange regarding 'Intimation of Deployment Status of Vessel "SEAMEC PRINCESS"'.

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AI summary

Seamec Limited has disclosed that the charter hire of vessel 'SEAMEC PRINCESS' with Lamprell Energy Limited (working for ONGC jobs in the West field) will not commence this season due to bad weather. This follows an earlier intimation dated May 12, 2026. The company informed the exchanges on May 17, 2026 at 08:09 hours. The charter was intended for ONGC's West field operations, and the entire season's deployment has been disrupted by weather conditions, resulting in a complete deferral rather than a temporary delay.

Likely market impact

The cancellation of this season's charter for SEAMEC PRINCESS is a revenue loss for the company, as no hire income will be earned from this vessel for the affected period. The extent of impact depends on how large this contract is relative to Seamec's total revenue.