SEAMEC III Secures Charter Extension with Asian Energy Services, Nets $336,000 for 8 Days

SEAMEC Limited has announced another successful extension of its vessel SEAMEC III’s charter with Asian Energy Services Limited, reinforcing its position in the offshore support sector and continuing its streak of lucrative contracts in 2025.

 

Charter Extension Details:

The charter for SEAMEC III has been extended for an additional 8 days, effective from April 29, 2025. The value for this extended period amounts to USD 336,000, calculated at a revised charter hire rate of USD 42,000 per day plus GST. This follows a recent 15-day extension valued at USD 630,000, reflecting strong demand for SEAMEC’s multi-purpose support vessel services.

 

Revised Charter Terms:

The charter hire rate was recently revised upward to USD 42,000 per day through an addendum executed between SEAMEC and Asian Energy Services, signaling favorable market conditions and the vessel’s operational reliability.

 

Market Response:

News of these charter extensions has buoyed SEAMEC’s stock, which recently surged over 13%, marking its best session since December 2023. Investors are optimistic about the company’s robust order book and growing footprint in sub-sea engineering and deep-sea diving services.

 

Industry Context:

SEAMEC’s continued success in securing high-value, short-term charter extensions underscores its reputation for operational excellence and its ability to capitalize on opportunities in the offshore energy sector.

 

With this latest extension, SEAMEC III remains a key revenue generator, positioning SEAMEC Limited for sustained growth in 2025.

 

Sources: Business Standard, MarketScreener, SEAMEC Limited Filings, Bullu.in