Seamec secures DSV charter with L&T; gets NoA from HAL Offshore

Seamec Limited announced that it has secured a contract with construction engineering company, L&T Hydrocarbon Engineering for the deployment of its diving support vessel (DSV) named-Seamec Princess for working at Mumbai High Offshore.

In an exchange filing made on Monday after the market hours, the company said that the tenure of the contract is for a firm period of 20 days but has an option to extend. The effective date of the contract was from May 11, 2020. Talking about its value, Seamec Ltd said that the aggregate value of the contract is Rs 8.07 crore, excluding GST.

Meanwhile, in another development, the company informed that HAL Offshore Limited has placed a notification of award (NoA) dated May 11, 2020 for charter hire of Seamec III for a period of two years. The vessel is likely to be deployed around end-July or early August after completing the dry docking and modifications required to meet the contractual obligation. The aggregate value of the contract is about USD 22,986,400, inclusive of GST, the company said in a BSE filing after the market hours.

The company is engaged in offshore and shipping business. It provides offshore oilfields support services through its multi-support diving vessels.

At 11.58 am on Tuesday, the stock of Seamec Ltd is trading at Rs 295.00, down by 2.75 per cent against its previous close of Rs 303.35. Its 52-week high is Rs 530.00 while, its 52-week low is Rs 195.00 on BSE.