Seamec Ltd has informed BSE about the following:

1. The Contract with Superior Offshore International Inc. 717 Texas Avenue, Houston, USA for deployment of vessel SEAMEC III till July 2008 was prematurely ended on April 15, 2008.

Following this, the Company has entered into Charter party with Cal Dive International Inc, 2500 Citywest Blvd, Suite 2200 Houston, Texas United States for deployment of the said vessel SEAMEC III for a period of one month with an option of extension for 4 x 1 week on the same charter rate of USD $ 55,000 per day from the same day i.e. April 15, 2008.

The vessel is likely to go for statutory Dry Dock in May 2008.

2. Further to the letter dated September 22, 2007 the Company has inform that the Company’s vessel Seamec II is likely to complete its dry docking and repair by end May 2008 for the damage caused due to fire accident while in Curacao dry dock on September 20, 2007. The Charterer, Condux SA de CE, Mexico has agreed to commence the charter on completion of repair and dry docking for a firm period upto end 2008. The Charter hire rate for first four months of firm period would be US$ 47,000/day and for balance period till 2008 the rate will be US$ 56,000/day. The contact has provision of extension for further period of two years in phased manner.