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.