According to reports from Business Standard, Seamec has entered into a definitive agreement with its holding company, HAL Offshore, to acquire the offshore support vessel SEAMEC ANANT for $70 million. The purchase consideration for the vessel has been fixed at $70 million, as per the MoA dated July 21, 2026. The vessel is expected to be delivered on or around 31 August 2026.
As reported by Business Standard, the transaction is classified as a related-party transaction as HAL Offshore is Seamec's holding company. However, Seamec clarified that the acquisition has been undertaken at arm's length and in the ordinary course of business. The company stated that there are no special rights, shareholding arrangements, board nomination rights, or other material terms associated with the agreement beyond the acquisition of the vessel.
According to recent reports, the SEAMEC ANANT is a 2023-built diving support vessel (DSV) measuring 80 meters long and 23 meters wide. The vessel has been primarily operating in the Mumbai High oil field region in India, supporting major clients including ONGC. Following delivery, the vessel will be chartered back to HAL Offshore at a $45,000 per day rate, securing steady operational revenue for both companies.
As reported by Business Standard, Seamec's consolidated net profit jumped 141% to ₹103.48 crore in Q1 FY27 as against ₹42.93 crore in Q1 FY26. Revenue from operations rose 63.8% year on year to ₹327.07 crore in Q1 FY27. The scrip rose 0.19% to ₹1,370.50 on the BSE following the announcement.
Earlier this month, Seamec's board approved the sale of the bulk carrier SEAMEC GALLANT to Hong Kong-based firm Bo Yuan Han Limited for a gross consideration of $9.5 million. The board has recommended putting this transaction before shareholders as a special resolution at the upcoming annual general meeting, indicating the company's active fleet management strategy.
