POSH Secures Vessel Services Contracts in the Middle East

Offshore marine services provider, PACC Offshore Services Holdings Ltd. (POSH) has secured long term charters for eight offshore supply vessels, with a combined value of approximately $167.5 million, with “a Middle Eastern national oil company”.

POSH will supply anchor-handling, supply and safety standby vessels, six of which will be newbuilds. The vessels, on a firm five-year charter with two one-year extension options, will support the national oil company’s operations in the Arabian Gulf. The charters will commence progressively following delivery, with vessels to be handed over to the client from December.

POSH Chief Executive Officer, Gerald Seow, said in a company statement:

“We are pleased to have been awarded eight more vessel contracts in the Middle East. This further validates our strategy to pursue pockets of growth in key markets that exist despite the challenging industry conditions.

“We will continue to differentiate ourselves and focus on maintaining and improving our best-in-class service to our clients across the offshore marine value chain. We are grateful that our client continues to place their trust in us.”



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Japan's NYK Completes Acquisition of 2... (Sep 30)
 -  Keppel FELS Delivers Floatel Triumph, ... (Sep 30)
 -  Falcon Updates on Drilling Ops at Amun... (Sep 30)
 -  MISC's MaMPU1 to Commence Ops at Vesti... (Sep 30)
 -  Det Norske Completes Merger with BP No... (Sep 30)


Most Popular Articles

From the Career Center
Jobs that may interest you
United States Williston: Operator Assistant II - Cementing
Expertise: Cementing
Location: Williston, ND
 
United States Fort Lupton: Field Professional I-Drilling Fluids
Expertise: Field Service Tech|Mud Engineer / Drilling Fluids
Location: Fort Lupton, CO
 
US El Reno: Service Specialist I - Service Tools
Expertise: Field Service Tech
Location: El Reno, OK
 
search for more jobs

Brent Crude Oil : $49.24/BBL 1.12%
Light Crude Oil : $47.83/BBL 1.65%
Natural Gas : $2.959/MMBtu 0.23%
Updated in last 24 hours