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    POSH forms JV for ocean towage services

    News // March 6, 2013

    PACC Offshore Services Holdings (POSH), through its EPIC division, has announced the formation of a joint venture company POSH Terasea Pte Ltd with Terasea Pte Ltd (Terasea).

    POSH will contribute to the JV a fleet of five specialized anchor handlers (12,000 bhp to 13,500 bhp) while Terasea contributes four newbuilding deepwater 16,000 bhp anchor handlers, which are to be delivered successively over the next 11 months.

    With this merger, claimed POSH, Posh Terasea will operate the largest and youngest fleet of vessels for the ocean towage market.

     

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