Seamec Limited, a prominent player in the offshore oilfield services sector, has reported mixed updates on its fleet operations. The company faced a technical breakdown of its vessel 'SEAMEC SWORDFISH' while simultaneously announcing the delivery of another vessel, 'SEAMEC III', for charter operations.

SEAMEC SWORDFISH Breakdown

The company informed the stock exchanges that the 'SEAMEC SWORDFISH' experienced a breakdown on October 17, 2025, at 07:35 hours due to technical issues. Seamec Limited has assured stakeholders that it is addressing these issues on a priority basis.

In its official statement, Seamec Limited said, "We wish to inform you that the Company's Vessel 'SEAMEC SWORDFISH' is under breakdown due to the technical reason, which is being redressed on priority." The company has committed to providing updates on the vessel's rectification and resumption of service in due course.

SEAMEC III Delivery

On a positive note, Seamec Limited announced the delivery of its vessel 'SEAMEC III' for mobilization on the same day. The company stated that charter operations for 'SEAMEC III' are expected to commence within two days of the announcement.

Impact and Outlook

The breakdown of 'SEAMEC SWORDFISH' may potentially impact the company's operations. However, the specific nature of the technical issues and the duration of the vessel's unavailability remain undisclosed at this time.

The delivery and imminent charter commencement of 'SEAMEC III' could help offset some of the operational challenges posed by the 'SEAMEC SWORDFISH' breakdown.

Fleet Status Summary

This mixed update on Seamec's fleet operations provides a balanced view of the company's current operational status. While facing challenges with one vessel, Seamec Limited is simultaneously progressing with the deployment of another, demonstrating the dynamic nature of its operations.

The company's prompt disclosure of these events aligns with the regulatory requirements set by the Securities and Exchange Board of India (SEBI) under the Listing Obligations and Disclosure Requirements Regulations, 2015.

Stakeholders will likely be watching closely for further updates on the 'SEAMEC SWORDFISH' repairs and its return to service, as well as the successful commencement of 'SEAMEC III's charter operations.

Seamec Limited, a prominent player in the offshore services sector, has announced a significant business development. The company has entered into a Bimco Charter Party agreement with Larsen & Toubro Limited for the charter hire of their barge 'SEAMEC GLORIOUS'.

Contract Details

The contract, valued at Rs 28.86 crore exclusive of GST, covers a firm period of 150 days with an option for extension. The charter is set to commence between October 1-30, 2025, demonstrating Seamec's forward-looking business strategy.

Project Scope

The barge 'SEAMEC GLORIOUS' will be deployed for offshore accommodation and hook-up work in Mumbai High & West Coast Offshore. This deployment is in support of a project for Oil and Natural Gas Corporation Limited (ONGC), highlighting Seamec's involvement in key offshore operations in India's oil and gas sector.

Key Information

Business Impact

This agreement is part of Seamec's normal course of business and does not involve any related party transactions. The contract underscores Seamec's continued relevance in the offshore services industry and its ability to secure significant projects with major players in the sector.

Disclosure and Compliance

Seamec Limited has made the necessary disclosures to the stock exchanges as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided detailed information about the contract in compliance with regulatory requirements, ensuring transparency for its stakeholders.

This development represents a positive step for Seamec Limited, potentially contributing to its revenue stream and reinforcing its position in the offshore services market.