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POSH secures 1-year contract for its vessel to continue operations in Brazil

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Offshore marine services provider PACC Offshore Services Holdings (POSH) has clinched a one-year contract for its POSH Xanadu semi-submersible accommodation vessel.

OFFSHORE marine services provider PACC Offshore Services Holdings (POSH) has clinched a one-year contract for its POSH Xanadu semi-submersible accommodation vessel.

"Under the terms of the contract, POSH Xanadu will continue to support the client's oil and gas production activities in the Campos Basin (in Brazil)," the company said in a regulatory filing with Singapore Exchange on Thursday after the close of trading.

Designed for deep waters and harsh operating environments, POSH Xanadu can accommodate up to 750 persons.

The counter ended 1.5 Singapore cents lower at 36 Singapore cents on Thursday.

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