SINGAPORE, 05 APRIL 2022 – Offshore marine services provider, PACC Offshore Services Holdings (“POSH”), today announced that it will be partnering with mooring and marine service specialist First Marine Solutions (“FMS”) to explore growth opportunities for floating offshore wind in Europe.

The two companies signed a Memorandum of Understanding (“MoU”) to bring together their combined expertise to market. Both POSH and FMS will work together on identifying, developing, and delivering on relevant joint tender opportunities. POSH, with assistance from FMS, will be responsible for the installation of offshore floating wind mooring systems, and FMS will be responsible for designing and subsequently supplying the offshore floating wind mooring systems as the technical authority.

This MoU follows on from POSH’s earlier announcement that it will be focusing on the development of the fast-growing floating wind market.

Mr Ulva Chai, Chief Operating Officer, POSH, said, “POSH continues our transformation to become a future-ready, sustainable solutions provider for the global energy sector. We are pleased to be working with First Marine Solutions to identify opportunities in this fast-growing sector. As specialists in offshore marine solutions, POSH will leverage on our relevant expertise and track record to offer integrated solutions for floating wind turbine projects. These services include planning & engineering, project logistics & management, pre-lay mooring, mobilisation base management, towage and hook up, cable installation, operations & maintenance, and decommissioning.”

Mr Steven Brown, Managing Director, FMS, said, “This agreement with POSH is the next step on our renewables strategy which began two years with the establishment of a dedicated offshore renewables business unit. FMS has designed, supplied and installed mooring systems worldwide for many years for a number of different applications and look forward to bringing our technical expertise, offshore experience and technology to the ever growing floating offshore wind market.”

Offshore wind has the biggest growth potential of any renewable energy technology globally. Currently, offshore wind makes up just 2% of what the world needs to get to net zero by 2050 but is rapidly growing - forecasted to grow by 235 GW of new installed capacity over the next decade1, seven times more than its current size.

For further information or to speak to a POSH spokesperson, please contact:
Ms. Sandra Benny, WATATAWA Consulting, +65 9815 5695, sbenny@we-watatawa.com

To speak to an FMS spokesperson, please contact:
Mr. Paul Crichton, Sales and Marketing Manager, FMS paul.crichton@firstmarinesolutions.com

About PACC Offshore Services Holdings (“POSH”)

PACC Offshore Services Holdings (“POSH”) is a leading solutions provider for offshore energy operations. Our key business segments include oil and gas, floating wind and subsea operations.

With a diversified fleet of approximately 70 vessels, our services include towage and installation support, offshore accommodation, construction support, harbour towage, as well as turnkey project management. POSH also provides an integrated suite of subsea services through POSH Subsea.

About First Marine Solutions (“FMS”)

FMS specialise in temporary and permanent Mooring solutions for floating offshore units. We offer a fully integrated service, from system design and analysis, to equipment supply and management, through to all aspects of the installation operations.

Having one of the most modern fleets of Mooring Equipment anywhere in the world, a dedicated quayside facility in Montrose, Scotland offering efficient vessel mobilisation and a market leading design, engineering and marine support function enables FMS to offer an unparalleled level of service and support to clients whilst also optimising operational and cost efficiencies across the whole project scope.

SINGAPORE, 28 JANUARY 2022 – Offshore marine services provider, PACC Offshore Services Holdings (“POSH”), today announced that it will be shifting its push into renewables away from operational support in the fixed wind market into the development of the fast-growing floating wind market.

As such, it has divested its Taiwan-based POSH Kerry Renewables Joint Venture (“JV”). POSH entered into a share purchase agreement (“SPA”) with Oceanic Crown Offshore Marine Services Ltd, the joint venture arm of Marco Polo Marine Ltd, to sell its entire share capital of PKR Offshore Co. Ltd. (“PKRO”).

POSH Kerry Renewables has been servicing the offshore renewables market in Taiwan since 2018. With its track record from supporting wind farm projects there, POSH is now actively exploring more accretive opportunities in fast-growing floating wind markets in Asia and Europe.

Mr Low Soon Teck, Acting Chief Executive Officer of POSH, said, “Our strong foundation, access to group-wide assets and expertise in anchor-handling and mooring put us in a good position to explore more accretive opportunities in fast-growing markets in Asia and Europe. This will accelerate POSH’s push into renewables as we transform into a sustainable solutions provider for the global energy sector.”

POSH’s pivot in strategy is in line with latest trends where 16.5GW of floating wind installations are expected by 2030, with South Korea, Japan, Norway, France and the UK likely to be the top five floating markets1. Asia’s slice of the pie is expected to more than double in that time, with an estimated 45% of global market share by 2030.

For further information, please contact: posh@we-watatawa.com

¹ GWEC offshore wind installations forecast through 2030 rises 18% on year. IHS Markit. 9 September 2021.

POSH Kerry Renewables (“POSH Kerry”) and the National Taiwan Ocean University (“NTOU”) have teamed up to introduce Taiwan’s first-ever offshore Fast Rescue Craft ("FRC”) training for local crew members, in line with POSH Kerry’s commitment to nurture local talent in Taiwan’s offshore wind industry.

As part of the programme, local crew members attended a training spanning four days, from 11 December 2020 to 14 December 2020, which was observed under strict safe distancing measures including mandatory wearing of masks.

Among those who completed the course were 15 Taiwanese seafarers from POSH Kerry.

Senior instructors from NTOU were invited to conduct the four-day programme on board POSH GAYA, a Fire Fighting Vessel sailing under the flag of Taiwan. Besides lessons on how to operate, deploy, launch and navigate FRCs as well as gaining in-depth knowledge on the structure and equipment of FRCs, POSH Kerry crew personnel also received hands-on training. The practical training equipped seafarers with skills and experience in operating the fast rescue boats and increase their familiarity with FRC operations so that they can better respond quickly in case of an emergency. 

As pictured above, crew members meticulously carried out instructions given by the instructor.

Despite challenges posed by the COVID-19 pandemic, POSH Kerry will continue to hone and upskill our local crew members in the offshore wind industry through specialised international training programmes. 

Here’s #POSHGaya – all ready and decked out for her work in Taiwan!

She recently completed her modifications in Singapore and has reached Taiwan for her upcoming job as a guard vessel to an international wind farm developer.

Thank you to our team and all our partners who delivered safely on this task amid the challenges from the pandemic. Safe voyage to all onboard!

#PACCOffshore #POSHGaya #OffshoreMarine #OffshoreVessel #OneTeam