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POSH secures contracts worth US$85M for five vessels in Middle East


Published Feb 25, 2016
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PACC Offshore Services Holdings Ltd.

Singapore’s Pacc Offshore Services Holdings Ltd (POSH) has secured long-term charters, worth $85 million, for five vessels to the Middle East.

The first contract is for the Group to supply four new utility vessels to the specific requirements of a Saudi Arabian national oil and gas major, primarily to support its offshore maintenance work in the Persian Gulf. The four newbuild vessels will be chartered for a firm period of five years, with options to extend.

The second contract won is for one of the Group’s Anchor Handling, Towing and Supply (AHTS) vessels for a Qatari client in the Middle East. Under this contract, the vessel will be chartered for a firm period of five years from the first quarter of 2016.

Tags: Pacc Offshore Services Holdings Ltd




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