SEARETE INDIA IFSC PRIVATE LIMITED, a joint venture company of Seamec International FZE—a wholly owned subsidiary of Seamec Limited—has successfully acquired the vessel “Chennai Valarchi” from The India Cements Limited. The acquisition was finalized on Monday, June 16, 2025, for a total consideration of USD 7.875 million (approximately ₹65.7 crore).
The vessel, bearing IMO No. 9279537, was immediately deployed under a bareboat charter arrangement with Foresee Shipping IFSC Private Limited, based in GIFT City, Gujarat. The charter agreement spans 42 months, with a daily hire rate of $ 7,156 (around ₹59.7 lakh per month), amounting to a total charter value of approximately$9.15 million (roughly ₹76.4 crore) over the duration of the contract.
This acquisition marks a strategic move for SEARETE INDIA IFSC in expanding its maritime operations and revenue base through long-term asset utilization.