Seamec bags charter hire contracts from HAL\, L&T Hydrocarbon

Seamec bags charter hire contracts from HAL, L&T Hydrocarbon

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Seamec on Monday (11 May) announced receiving charter hire contracts from HAL Offshore (HAL) and L&T Hydrocarbon Engineering.

The company said that HAL Offshore (HAL) has placed a notification of award (NoA) for charter hire of SEAMEC III for a period of 2 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 contract is about $22,986,400.

Further, the company's subject vessel 'Seamec Princess' has been contracted with L&T Hydrocarbon Engineering for working at Mumbai High Offshore. The tenure of the contract is for a firm period of 20 days with option for extension. The contract has commenced from 11 May 2020. The aggregate value of contract is about Rs 8.07 crore.

Seamec's consolidated net profit rose 9.21% to Rs 39.71 crore on a 3.51% increase in net sales to Rs 105.96 crore in Q3 December 2019 over Q3 December 2018.

Seamec provides is engaged in offshore and shipping business. Shares of Seamec were down 2.75% to Rs 295 on BSE. The scrip hovered in the range of Rs 295 to Rs 305 so far.

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First Published: Tue, May 12 2020. 12:18 IST