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Seamec gains on filing claim towards unpaid Charter Hire amounting $3.82 million

21 Jul 2015

Seamec is currently trading at Rs. 117.60, up by 0.20 points or 0.17% from its previous closing of Rs. 117.40 on the BSE.

The scrip opened at Rs. 116.50 and has touched a high and low of Rs. 118.80 and Rs. 116.50 respectively. So far 8,205 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.00 on 30-Sep-2014 and a 52 week low of Rs. 84.15 on 29-Apr-2015.

Last one week high and low of the scrip stood at Rs. 123.90 and Rs. 115.10 respectively. The current market cap of the company is Rs. 398.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 2.17% and 22.83% respectively.

Seamec has filed a claim for $3.82 million against Sea Horse General Contracting Establishment before the Abu Dhabi Court of First Instance, UAE, Abu Dhabi on July 13, 2015.

The company had earlier entered into a Charter Party with Sea Horse General Contracting Establishment, Dubai, UAE, for Charter Hiring of the vessel ‘ALLIANCE’. The Charter Party commenced on October 07, 2013 and ended on July 14, 2014. The Charter Hire charges amounting to $3.82 million remained unpaid. The Charterers contention is that they have not received payment from their Client Contractor.

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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