SEAMEC Limited has officially notified stock exchanges about its vessel SEAMEC SWORDFISH going off-hire due to technical reasons. The company filed this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Vessel Operations Suspended

The SEAMEC SWORDFISH has been under downtime with effect from April 23, 2026 at 18:56 hrs due to technical reasons. The company has assured that the technical issue is being addressed on priority and will inform about rectification and resumption in due course.

Regulatory Compliance and Communication

SEAMEC Limited received the information on April 24, 2026 at 11:10 hours and promptly communicated the update to both BSE Limited (Scrip Code: 526807) and National Stock Exchange of India Limited (Trading Symbol: SEAMECLTD). The notification was digitally signed by S.N. Mohanty, President – Corporate Affairs, Legal and Company Secretary, on April 24, 2026 at 11:32:28 +05'30'.

Company Profile and Industry Standing

SEAMEC Limited operates as a member of the MMG MTI ADMIRAL GROUP with its registered office located at A-901-905, 9th Floor, 215 Atrium, Andheri Kurla Road, Andheri (East), Mumbai 400 093. The company maintains multiple ISO certifications including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, demonstrating its commitment to quality, environmental, and occupational health and safety management systems. Additionally, SEAMEC Limited holds contractor membership with the International Marine Contractors Association (IMCA), reflecting its standing in the marine contracting industry.

SEAMEC Limited has executed an addendum on April 23, 2026, extending the charter hire period for its vessel SEAMEC GLORIOUS with Larsen & Toubro Limited until May 15, 2026. The extension includes an option for day-to-day extension for 15 days at the charterer's discretion. The total value of the extension period is Rs. 6,54,07,500.00, exclusive of GST.

Charter Agreement Details

The extended charter agreement encompasses the following key parameters:

Regulatory Compliance and Documentation

The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The addendum was executed to the original charter party dated October 15, 2025, with the disclosure made on April 24, 2026. SEAMEC's President – Corporate Affairs, Legal and Company Secretary, S.N. Mohanty, signed the regulatory filing, confirming the transaction as part of normal business operations.

Strategic Partnership Continuation

This addendum demonstrates continued confidence in SEAMEC's vessel operations and service capabilities. The partnership allows SEAMEC to maintain steady revenue streams from its marine assets while supporting L&T's project requirements. The contract extension provides enhanced revenue visibility and operational stability for the SEAMEC GLORIOUS vessel.

Business Impact

The extended charter agreement ensures sustained utilization of the company's marine assets and reinforces its position in the offshore services market. This development highlights SEAMEC's ability to secure long-term contracts with established clients, contributing to the company's operational efficiency and financial planning. The agreement with Larsen & Toubro, a prominent player in India's infrastructure and engineering sector, further validates SEAMEC's service quality and reliability in marine operations.

Source: None/Company/INE497B01018/ab34fd5ca73845b2.pdf