Seamec Wins ONGC Vessel Charter Contract

16 Dec 2025 CW Team

Seamec shares rose 2.90 per cent to Rs 1,042.85 after the company, through its subcontractor G R Infraprojects, secured a contract from Oil and Natural Gas Corporation for the charter hire of its vessel Seamec III.

The vessel will be deployed for second-season subsea installation and diving works under the part replacement pipeline project (PRP-VIII A) and the DSF II project. The lump-sum subcontract has a tenure of 150 days and is valued at about $16.72 million, excluding GST. The order was awarded by a domestic entity in the normal course of business, with no promoter interest involved, and does not qualify as a related-party transaction.

Seamec operates across two verticals within the shipping sector—offshore support vessels and services, and bulk carrier chartering. The company owns six vessels and one barge in its offshore support business, with deployments across domestic and international markets.

G R Infraprojects, which is executing the subcontract, is engaged in infrastructure development on engineering, procurement and construction as well as build, operate and transfer models. Shares of G R Infraprojects rose 0.75 per cent to Rs 1,011.20 on the BSE.

Maharatna PSU Oil and Natural Gas Corporation is India’s largest crude oil and natural gas producer, contributing about 71 per cent of domestic output. The Government of India held a 58.89 per cent stake in ONGC as of September 30, 2025. ONGC shares closed 0.38 per cent higher at Rs 239.38 on the BSE.

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