SEAMEC LTD
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BSE Code:
526807
NSE Code:
SEAMECLTD
Business Profile
Business Profile
Seamec (SEAMEC) is engaged in the business of providing support vessels for offshore installations. It was incorporated on Dec. 29, 1986 and got its current name with effect from June 12, 2007. Coflexip Stena Offshore Mauritius, a wholly-owned subsidary of Technip SA, France, holds 78.24% share in Seamec.
The company is currently engaged in the business of operating multi-support vessels for diving and for providing underwater/sub sea engineering services, deep sea diving, and inspection of underwater structures, repairs and maintenance of offshore platform fire-fighting services and rescue operations. It started operations with the acquisition of a single vessel from its initial collaborator Rolv Berg Drive A/S of Norway.
It was the first company in the private sector to manage and operate an ONGC-owned vessel (between 1991 and 1993 on charter hire). The company now owns three vessels, SEAMEC I, SEAMEC II and SEAMEC III. However since being acquired by Coflexip Stena Offshore and later by Technip, the capabilities of the company have been expanded to encompass a wider range of subsea intervention and oilfield support services.
The registered office of the company is located at 6 Waterloo Street, South Block, (1st Floor), Kolkata-700069.
Financials
Seamec swung to loss for the quarter ended September 2008. During the quarter, the company reported loss of Rs 123.20 million compared with a profit of Rs 89.28 million in the same quarter last year. Net sales for the quarter surged 51.31% to Rs 686.10 million, while total income for the quarter jumped 46.90% to Rs 700.10 million, when compared with the prior year period.
Recent Developments
17-APR-09
The company has entered into a contract with Dulam International, Dubai UAE for deployment of vessel for a period of twelve months firm to work in Arabian Gulf and other areas as may be mutually agreed.