For the next four years, SEAMEC will charter its vessel Agastya to HAL Offshore for $25,000 per day under an agreement totaling more than $43 million, including earmarked taxes.
The commercial agreement for the use of the vessel Agastya
The SEAMEC vessel Agastya, formerly known as NPP Nusantara, will operate under this charter agreement for the remainder of a five-year period, after completing its statutory maintenance. As reported by SEAMEC in an official statement, the agreement is on normal market terms, with no special duties imposed and no changes to the corporate structure.
The promoter company, HAL Offshore, with a 70.77% shareholding in SEAMEC, will be in charge of the deployment of the vessel in operations linked to the existing contract with the state-owned oil company ONGC. Despite the shareholding link, SEAMEC has confirmed that this is an ordinary transaction, with no additional implications such as appointments, share issues or associated loans.
Following the announcement, SEAMEC shares closed slightly down 1.67% on the Birmingham Stock Exchange, trading at ₹970.40. Analysts attributed the move to technical movements, because the deal strengthens the utilization of key assets and improves the company’s medium-term operating outlook.
The company had anticipated part of this agreement in a previous communication dated August 22, 2025. With this contract, SEAMEC consolidates its collaboration with HAL Offshore and strengthens its position in the segment of maritime services for the oil and gas industry in Asia.
Source and photo: SEAMEC