Seamec Swordfish Sets Sail: $57 Million Middle East Charter Boosts Offshore Ambitions

Unknown Apr 02, 2026 2 Views

Seamec Ltd has kicked off a significant new chapter in its offshore operations, commencing the charter hire of its multipurpose diving support vessel, Seamec Swordfish, with Saudi-based Safeen Al Behar. This landmark contract, valued at $57.4 million, marks a major win for the Indian offshore sup...

Key Highlights:

Big-Ticket Charter: Seamec Swordfish has been chartered for a firm period of 730 days (two years), with the option to extend on mutually agreed terms. The contract is set to begin between March 1 and March 30, 2025, and will see the vessel deployed in both Saudi Arabian and UAE waters.
State-of-the-Art Vessel: Acquired in 2022, the 2007-built Seamec Swordfish is a modern, 103.7-meter-long diving support vessel (DSV) equipped for saturation diving, ROV operations, surveys, crane work, and complex deepwater inspection and maintenance. Its versatility makes it ideal for challenging offshore installations and subsea projects.
Strategic Growth: This contract underscores Seamec’s growing reputation in the Middle East, a region with strong demand for high-quality offshore support vessels. The deal is expected to significantly bolster Seamec’s revenue streams and international profile.
Financial Momentum: Seamec recently reported a return to profitability, with Q3 FY25 sales up 4% year-on-year to ₹87.87 crore and a net profit of ₹0.11 crore, reversing losses from the previous year.
Industry Position: With six vessels and one barge in its fleet, Seamec continues to lead in offshore support and bulk carrier charter services, both domestically and internationally.

This milestone contract with Safeen Al Behar positions Seamec for robust growth and cements its standing as a key player in the global offshore support sector.

Sources: Business Standard, Splash247, Offshore Energy, MoneyWorks4Me, PM Global News

Stay Ahead – Explore Now! JSW Steel Beats Estimates with Strong Q3 Performance