Seamec Ltd. Enters Addendum for Vessel Charter with Posh India Offshore Private Limited
Mumbai – April 1, 2026 – Seamec Ltd. announced today that it has entered into an addendum to a subcontract agreement with M/s. Posh India Offshore Private Limited. The agreement, Addendum 02, pertains to the charter hire of the company’s vessel 'SEAMEC PRINCESS' for the installation of concrete mattresses in Pipeline Replacement Project VIII (PRP-VIII Gr. B) and Daman Upside Development Project (DUDP) of Oil and Natural Gas Corporation Limited (ONGC).The charter hire rate for the vessel is USD 37,000 per day, exclusive of Goods and Services Tax (GST). The event occurred on April 1, 2026, at 12:26 hours.
| Description | Remarks | |
|---|---|---|
| a) | Name(s) of parties with whom the agreement / Addendum is entered | M/s. Posh India Offshore Private Limited |
| b) | Purpose of entering into the agreement/ Addendum | Charter Hire of Vessel 'SEAMEC PRINCESS' for the installation of concrete mattresses in Pipeline Replacement Project VIII (PRP-VIII Gr. B) and Daman Upside Development Project (DUDP) of Oil and Natural Gas Corporation Limited (ONGC). |
| c) | Size of Agreement / Addendum | The Charter Hire rate of the Vessel is USD 37,000 per day exclusive of GST. |
| d) | Shareholding, if any, in the entity with whom the agreement / addendum is executed; | NA |
| f) | Whether the said parties are related to Promoter / Promoter Group / Group companies in any manner. If yes, nature of relationship. | NO |
| g) | Whether the transaction would fall within Related Party Transactions? If yes, whether the same is done at 'arm's length' | NO |
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