Introduction:
Leading shipping and offshore services provider has secured a $5.61 million subcontract for riser clamps and installation work in key ONGC projects. The contract, awarded by Posh India Offshore, is set for completion by May 2026.
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Share price movement of SEAMEC:
On March 25, 2025, SEAMEC Ltd opened at ₹994.90, up 5.40% from its previous close of ₹943.95. The stock reached a high of ₹1,069.40 (13.30%) and a low of ₹994.90. By 10:52 AM, it traded at ₹1,024.75, an 8.56% increase, with a market cap of ₹2,605.43 crore.
SEAMEC Secures $5.61M Offshore Contract:
SEAMEC Limited has secured a subcontract agreement with Posh India Offshore Private Limited. The deal, worth approximately USD 5.61 million, involves riser clamps, bow string, and installation work for ONGC’s PRP-VIII and DUDP projects.
The contract, awarded on a unit rate basis, is expected to be executed by May 2026. SEAMEC’s role includes crucial pipeline replacement and development tasks. The agreement falls under SEBI’s disclosure regulations, with no related party involvement.
This partnership reinforces SEAMEC’s position in offshore engineering services. The project’s execution aligns with industry growth, focusing on infrastructure expansion. The contract’s domestic nature highlights SEAMEC’s continued contribution to India’s oil and gas sector.
Stock performance of SEAMEC for Period of 1 week, 6 months, and 1 year:
SEAMEC Ltd recorded a 1.39% gain over the past week but faced a 35.5% decline in six months and a 13.0% drop over the past year, reflecting market volatility in its performance.
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Shareholding pattern of SEAMEC:
| Particulars | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 72.30% | 72.30% | 72.30% |
| FII | 3.40% | 4.10% | 3.80% |
| DII | 6.50% | 6.20% | 5.00% |
| Public | 17.80% | 17.40% | 18.90% |
About SEAMEC:
SEAMEC Ltd (NSE: SEAMECLTD) operates India’s largest fleet of multi-support vessels, providing diving and subsea services. It has expanded into main fleet shipping with three bulk carriers, strengthening its presence in the maritime industry.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
