SEAMEC Share Price Surges Over 2% on Signing $43 Million Charter Hire Deal with HAL Offshore for Agastya Vessel

SEAMEC Ltd has signed a charter hire contract with HAL Offshore Ltd for its multi-support vessel, SEAMEC Agastya, formerly known as NPP Nusantara.  

The update, issued on December 4, follows an initial disclosure made in August 2025. The vessel will join HAL Offshore’s work under its existing ONGC contract once it completes the required dry dock process. 

Contract Tenure and Pricing 

The agreement covers a 5-year deployment. For the balance 4-year period, the charter hire rate has been fixed at $25,000 per day.  

Based on this structure, the overall value of the contract comes to roughly $43.07 million, inclusive of GST. The company has not indicated any changes to the dry dock timeline. 

Related Party Context 

HAL Offshore holds a 70.77% shareholding in SEAMEC, placing the arrangement under the category of a Related Party Transaction. SEAMEC stated that the contract has been entered into on an arm’s length basis and treated as a routine business agreement. 
 
The contract does not introduce any additional governance-related provisions. There are no rights linked to board seats, nominee directors, share issuances, capital structure restrictions, or loan terms attached to this arrangement. 

Regulatory Position 

SEAMEC noted that the agreement does not require any further conflict-related disclosures beyond its related party classification.  

The scope of the contract remains limited to the charter hire of the vessel and does not extend to operational direction or participation in HAL Offshore’s management. 

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SEAMEC Share Price Performance  

As of December 05, 2025, 10:06 am, Seamec Ltd share price was trading at ₹993.40, a 2.23% increase from the previous closing price. 

Conclusion 

The contract outlines the commercial terms for the long-term use of SEAMEC Agastya under HAL Offshore’s ongoing offshore assignment. With a fixed rate and defined tenure, the agreement provides clarity on the vessel’s deployment over the next five years. 

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