Seamec Bags USD 5.21 Million Offshore Contract; Shares Gain 2%
Authored By HDFC SKY | Published at: Jul 15, 2026 10:08 AM IST
Seamec secured a USD 5.21 million offshore charter contract from Lamproll Energy, with the stock rising more than 2% in early trade.
Mumbai, July 15: Seamec Ltd. has landed a USD 5.21 million charter contract from Lamproll Energy Limited for its accommodation work barge Seamec GLORIOUS, adding another offshore assignment to its order pipeline.
As per the company’s exchange filing, the vessel will be deployed for offshore accommodation and hook-up support work in Mumbai High and the West Coast for projects of Oil and Natural Gas Corporation (ONGC). The contract has been awarded by Lamproll Energy, which is executing the offshore work.
The charter is for an initial period of 180 days, with an option to extend. The assignment is expected to begin between October 15, 2026 and October 31, 2026. The total contract value stands at USD 5.21 million, inclusive of GST.
Seamec also clarified that the agreement is not a related-party transaction.
Stock Market Snapshot
Seamec share price moved higher after the contract announcement, with investors reacting positively to the fresh business win.
The stock traded at ₹1,460.50, up 2.35%, as of 9:22 AM IST on July 15. It opened at ₹1,461.00 and traded in the ₹1,460.50 to ₹1,464.00 range during the morning, according to NSE data.
The move suggests the market viewed the contract as a positive addition to the company’s order book, even though execution is scheduled to begin later this year.
Company Background
Seamec provides specialised offshore support services to the oil and gas industry. Its fleet includes diving support vessels, accommodation barges and other marine assets used in offshore exploration, construction and production activities.
The company works with energy producers and offshore contractors in India and overseas, with ONGC remaining one of the key end-users for several offshore projects.
Conclusion
While the contract is not among Seamec’s largest, it secures deployment for Seamec GLORIOUS for at least six months and comes with an extension option. For an offshore services company, steady vessel utilisation is an important driver of revenue, making such charter awards a meaningful addition to the business pipeline.
Source:
- https://www.nseindia.com/get-quote/equity/SeamecLTD/Seamec-Limited
- https://nsearchives.nseindia.com/corporate/SeamecLTD_15072026085807_BSENSEGloriousCharterLamprell15072026.pdf
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