POSH secures long-term charters for POSH Arcadia and POSH Xanadu vessels

25 September 2020 (Last Updated September 25th, 2020 15:52)

Offshore marine services provider PACC Offshore Services Holdings (POSH) has secured long-term charters for two of its offshore semi-submersible accommodation vessels, namely POSH Arcadia and POSH Xanadu.

POSH secures long-term charters for POSH Arcadia and POSH Xanadu vessels
POSH Xanadu at Truinfo port in Rio de Janeiro. Credit: POSH.

Offshore marine services provider PACC Offshore Services Holdings (POSH) has secured long-term charters for two of its offshore semi-submersible accommodation vessels, namely POSH Arcadia and POSH Xanadu.

The contract has been awarded by Brazilian firm Petrobras.

The vessels will provide maintenance and accommodation support for multiple Petrobras’ platforms and floating production storage and offloading (FPSO) vessels offshore Brazil for three years.

POSH Offshore Services managing director Ulva Chai said: “We are proud for POSH to have both flagship SSAVs simultaneously secure long-term charters with Petrobras amid stiff competition.

“Amid Covid-19, we will work to ensure the health and safety of all involved without compromising our trademark world-class service. We look forward to working with Petrobras again and thank them for their continued trust.”

POSH said that these contracts also include an option to extend for an additional 18 months for both vessels.

The recent contract is POSH Xanadu’s third and POSH Arcadia’s first contract with Petrobras.

POSH Arcadia and POSH Xanadu are designed for operating in deep waters and harsh environments.

POSH CEO Lee Keng said: “Our repeat wins with Petrobras is especially momentous amid such uncertain times. This further differentiates and solidifies our position within the offshore accommodation space, which remains a major part of our business.

“These charters will provide the stability to our business in the coming years as we continue to accelerate POSH’s transformation to become a future-ready, sustainable solutions provider for the global energy sector.”

The semi-submersible accommodation vessels are scheduled to commence operations early next year.