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Seamec subsidiary acquires vessel ‘Chennai Valarchi' for USD 7.875 million
By Aman Shukla Published on June 17, 2025, 14:06 IST
Seamec Ltd has announced that its wholly owned subsidiary, Seamec International FZE, through its joint venture company SEARETE INDIA IFSC PRIVATE LIMITED, has completed the acquisition of the vessel 'CHENNAI VALARCHI' from The India Cements Limited. The purchase was finalized on Monday, June 16, 2025, at a transaction value of USD 7.875 million.
Following the acquisition, the vessel has been placed on a bareboat charter with FORESEE SHIPPING IFSC PRIVATE LIMITED, based in GIFT City, Gujarat. The charter agreement spans a period of 42 months with a daily hire rate of USD 7,156. Over the full term of the charter, this equates to an estimated total charter hire of approximately USD 9.15 million.
The company received formal communication regarding the completion of the transaction on June 17, 2025, at 11:39 AM.
This development marks another strategic step in Seamec's ongoing maritime operations and asset utilization.
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Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
