The 5-year analysis of Seamec Ltd's performance infers:
We analysed the performance of Seamec Ltd share prices over the last 10 years. Here is what we found out:
South East Asia Marine Engineering & Construction (SEAMEC), incorporated as Peerless Leasing Private on December 29, 1986, is an Indian registered public limited company listed on The Stock Exchange, Mumbai and The National Stock Exchange of India. Subsequently the name of the company was changed to Peerless Drive on July 8, 1987. Later, it was again renamed as Peerless Shipping & Oilfield Services on August 25, 1994.
The company started operating on a single DSV in Indian
The company started operating on a single DSV in Indian Offshore market, grown subsequently to own and operate three DSVâ€™s.
In the year 1995, Coflexip Stena Offshore Mauritius, the wholly owned subsidiary of Coflexip acquired 8.38% of company. In October 1999, Coflexip Stena Offshore Mauritius raised its holding to 58.24% controlling interest in the company by acquiring the total shareholding of Peerless Finance.
In August 2000, the name of the company was formally changed to South East Asia Marine Engineering &Construction (SEAMEC) to reflect the change in ownership, objective & capabilities of the new organisation. Later in 2001, with the acquisition of the Coflexip Group by Technip of France, the company became a subsidiary of the largest oilfield engineering, construction and service group in Europe and part of an organisation with total annual turnover of more than US$5 billion and a permanent workforce of 22,000. Coflexip Stena Offshore Mauritius now a wholly owned subsidiary of Technip SA, France, holds 78.24% share in Seamec.
The name of the company was changed to SEAMEC with effect from June 12, 2007.
Historically, Peerless Shipping & Oilfield Services' operations consisted mainly of chartering the three DSVâ€™s to ONGC on long-term day-rate contract. However, after being acquired by Coflexip Stena Offshore and later by Technip the capabilities of the company have been expanded to cover a wider range of subsea intervention and oilfield support services.
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