POSH set on penetrating Middle East

Singapore

PACC Offshore Services Holdings has mobilised two newbuild light construction vessels to the Persian Gulf as it sets about accelerating its penetration of the resilient offshore marine market in the Middle East.

Each of the two light construction vessels - POSH Endeavour and Enterprise - is contracted for a fixed five-year term charter plus an option to extend for two further years. The contracts are with a field operator in Saudi Arabia and primarily for accommodation and maintenance support in existing fields.