Seamec shines on entering into contract worth $6.8 million with Technip France, Abu Dhabi

07 Apr 2014

Seamec is currently trading at Rs. 104.20, up by 3.80 points or 3.78% from its previous closing of Rs. 100.40 on the BSE.

The scrip opened at Rs. 103.85 and has touched a high and low of Rs. 107.00 and Rs. 102.00 respectively. So far 21,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 110.55 on 31-Mar-2014 and a 52 week low of Rs. 38.10 on 08-Aug-2013.

Last one week high and low of the scrip stood at Rs. 110.55 and Rs. 88.65 respectively. The current market cap of the company is Rs. 352.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 4.82% and 20.18% respectively.

Seamec has entered into a charter party with Technip France, Abu Dhabi for deployment of ‘Seamec Princess’ in Dubai offshore for a firm period of 120 days with option for extension. The charter hire is likely to commence around end April, 2014. The contract value during the firm period would be around $6.8 million.

The vessel ‘Seamec Princess’ will complete her charter with Kreuz Subsea in South East Asia around 2nd week of April, 2014.

Seamec is engaged in the business of operating multi-support vessels for diving and for providing underwater/sub-sea engineering services, deep sea diving, and inspection of underwater structures, repairs and maintenance of offshore platform fire-fighting services and rescue operations.

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