Seamec Limited — Important, 28-02-2025: Agreements

SEAMEC’s vessel, SEAMEC SWORDFISH, has transitioned to a new role as an Air Diving Support Vessel (ADSV) with Mermaid Subsea Services due to a breakdown that delayed its initial operations. Effective from February 2, 2025, the vessel will operate at a revised rate of USD 40,000 per day, with total earnings projected at USD 1.08 million for this period ending February 28, 2025. Additionally, SEAMEC is set to commence a charter with Safeen Al Behar Limited, starting in late March 2025 for a firm period of 730 days, an arrangement that appears unchanged. The company's ability to secure alternative contracts during the operational downtime for SWORDFISH indicates a resilient strategy in managing asset deployment and revenue generation. Investors should consider the upcoming charter as a potential growth opportunity in the marine services sector while monitoring any operational risks associated with vessel reliability.