In January this year, POSH was engaged by China Oilfield Services Limited (COSL) to carry out harbour towage & float on-off operations within the Singapore Harbour. The towage involved two jack-up rigs, COSL Boss and COSL Seeker, which were reactivated from cold stack in Labuan, Malaysia for the preparation in Singapore shipyards prior to their respective forward charters.
As part of the engagement, POSH Terasea was awarded the contract for ocean towage of COSL Boss from Malaysia to Singapore before our Harbour Services Division took over. Four 4,000BHP harbour tugs, namely POSH Guardian, POSH Gentle, POSH Grace, and PW Berani, were used to transport COSL Boss within the Singapore harbour to Keppel FELS shipyard.
Just a month after the COSL BOSS project, COSL awarded another contract to POSH. This time, four harbour tugs were called to tow the COSL Seeker from Singapore anchorage to Sembcorp Marine Shipyard at Tuas Boulevard. Of the four harbour tugs involved, two were 5,000BHP (POSH Husky and POSH Hardy) while the other two were 4,000BHP (PW Benar and PW Berani).
These two projects challenged us in many ways due to their tight schedules. In particular, the COSL Seeker operation required absolute precision and perfect coordination between our harbour tugs and the tow master to prevent any collision between the jack-up rig and the heavy lift vessel's deck structure. By working closely with COSL, the Tow Masters, as well as the Marine Warranty Surveyor, both projects were swiftly and safely completed.
Earlier this year, POSH was appointed as the heavy lift services provider for the construction of a container terminal in the Port of Thilawa to meet the ever-growing demand at one of Myanmar's key logistics hubs. To start off, the 3,600 BHP PW Lambda was used to tow the floating sheerleg crane PW L501 to and from Myanmar to support the installation of 20 steel jetty platform modules, each weighing approximately 200 tonnes, onto pilings located near the shore.
Preparation for this project began five months ahead of the commencement date. Despite high scrutiny and time pressure from the main contractor, Toyo Construction, our team exceeded expectations and completed the project three weeks earlier than planned.
The professionalism and teamwork POSH demonstrated during these projects underline our commitment to service excellence. We are also pleased to be able to offer solutions across our diversified service portfolio, thereby providing a one-stop shop for our clients.
As an international offshore marine service provider, we seek to make a difference to the local community wherever we operate.
Earlier this year, POSH embarked on several initiatives and campaigns to build and train a local pipeline of maritime talent in Saudi Arabia. Our efforts reflect our strong commitment to Saudi Aramco's in-Kingdom Total Value Add ("IKTVA") Program, which is a nation-wide initiative to increase localisation levels across key industries.
The shortage of local maritime talent in Saudi Arabia can be attributed to the lack of knowledge about the industry. To tackle this issue, POSH Saudi introduced several outreach programmes in partnership with local institutions, including the National Marine Academy ("NMA") in order to raise awareness about the industry amongst the locals. Under this partnership, POSH personnel would be invited as speakers to share insights on the offshore marine business as well as the career opportunities with POSH Saudi.
A Memorandum of Understanding was also signed between POSH Saudi and King Abdul Aziz University to launch an exchange programme. Through this programme, POSH crew will be granted the opportunity to attend maritime-related courses with the university during their off-hire season. Students from the university, in turn, are granted opportunities for shipboard attachment on board POSH vessels, and suitable candidates will be assessed for employment opportunities with POSH at the end of the programme.
In response to a corporate video launched on social media, we also received interest from several members of the public to explore employment with POSH. Check out our corporate video here: https://www.youtube.com/watch?v=TRjIYR1xUW0
We strongly believe that human capital is the key to an organisation's success. By recruiting and developing locals, POSH aims to nurture a pool of highly qualified crew members to handle our vessels in Saudi Arabia. This would not only simplify the logistical process of crew changes, but also ensure that we continue to provide quality service for our clients.
POSH Xanadu, one of our two Semi-Submersible Accommodation Vessels ("SSAV"), recently commenced a project in the US Gulf of Mexico for an international oil major. Despite being put on an accelerated timeline, POSH Xanadu arrived on site ahead of schedule.
The 750-pax SSAV has maintained uptime amid challenging operating conditions. One of the most recent examples happened in March 2018 when POSH Xanadu was caught in both the Loop Current and Eddy Current. The interaction between the two currents resulted in sharp changes in current speed and direction, making it challenging for any vessel to maintain its position. At the height of this interaction, wave currents hit 2.3 knots, equivalent to 4.3km/h. Yet, with our experienced team at the helm, the state-of-the-art POSH Xanadu driven by nine powerful thrusters managed to maintain her gangway connection and achieve excellent station-keeping.
With our strong technical capability and relentless focus on operational excellence, we continue to challenge ourselves and expand our global footprint to provide our clients with the best service standards.
Loop Current is a horseshoe-shaped feature that flows clockwise, transferring warm ocean currents from the Caribbean Sea through the Yucatan Straits into the Gulf of Mexico. It can reach a maximum flow speed of 6.5km/h.
Eddy Current is the circular motion of water on the surface usually caused by the flow around an obstacle. It can range between 10 and 500 kilometres in diameter and may persist for months. Due to the vigorous circulation associated with them, these currents are known to affect tidal conditions out at sea.
| TAIWAN, 12 JULY 2018 – Offshore marine services provider PACC Offshore Services Holdings Ltd. (“POSH”) and Taiwan-based logistics firm Kerry TJ Logistics (“Kerry TJ”) today announced they will be incorporating a joint venture company POSH Kerry Renewables (“POSH Kerry”) in Taiwan, which aims to provide an integrated solutions platform for offshore wind farm developers, EPCI contractors and wind turbine manufacturers. This is the first time that two major players in their respective fields have integrated supply chain and marine solutions on a single platform capable of supporting the entire offshore renewables project life cycle. Leveraging the capabilities and assets of both companies, POSH Kerry will provide a comprehensive portfolio including the end-to-end transportation of wind turbines and components as well as diversified marine solutions during the installation, operations and maintenance of offshore wind farms in Taiwan. With an established track record for executing complex offshore energy projects requiring stringent operational and safety standards, POSH brings specialised offshore marine expertise and a modern fleet of vessels that are readily transferable to support offshore wind operations. Listed on the Taiwan Stock Exchange, Kerry TJ is Taiwan’s largest logistics provider with an extensive local supply chain network and in-depth market knowledge that will support POSH Kerry’s clients in navigating the evolving local operating landscape. Mr Lee Keng Lin, Deputy Chief Executive Officer of POSH, said, “We are excited to enter the offshore renewables sector with Taiwan’s largest logistics provider Kerry TJ Logistics. Our unique platform will provide clients in the Taiwan offshore renewables sector a comprehensive suite of supply chain and offshore marine solutions that can be configured to meet their specific requirements.” Mr Richard Shen, Chairman, Kerry TJ Logistics, said, “We are glad to be partnering with leading offshore marine operator POSH as they establish their presence in Taiwan. I am confident that our extensive local networks and logistics expertise will support POSH Kerry’s clients in navigating Taiwan’s evolving operating landscape.” POSH Kerry will be joined by other strategic partners who are keen to customise solutions for the Taiwan offshore renewables market. A Memorandum of Understanding (“MOU”) has been signed with Rolls-Royce to explore suitable designs for walk-to-work and Services Operations Vessels (“SOV”) specific to offshore wind operations. The partnership has also gained traction with clients, including a MOU signed with Macquarie Capital and Swancor to jointly explore collaboration opportunities in the Taiwan offshore wind market; as well as support from Enterprise Singapore, the agency championing enterprise development. Mr Ho Chi Bao, Director for Precision Engineering, Marine & Offshore and Engineering Services, Enterprise Singapore, said, “As renewables form an increasing part of the energy mix in Asia, Singapore companies such as POSH can leverage their expertise in operating offshore vessels and project logistics to contribute to wind energy developments. “Enterprise Singapore has been working closely with POSH on its entry into Taiwan through sharing insight into the market landscape and facilitating connections to key business partners. We will continue to facilitate such partnerships to enable Singapore players to offer their solutions and expand into the renewables space.” |
TAIWAN, 24 JULY 2018 – POSH Kerry Renewables (“POSH Kerry”), a joint venture between offshore marine services provider PACC Offshore Services Holdings Ltd. (“POSH”) and Taiwan-based logistics firm Kerry TJ Logistics (“Kerry TJ”), has secured its first contract for the Taiwan offshore renewables market.
Under this contract, POSH Kerry will provide anchor handling, supply and standby support to an international geotechnical services operator during the site survey, installation and construction of an offshore wind farm. The scope of work will begin off the coast of Guanyin and potentially include other sites in Yunlin and Taoyuan-HsinChu. Work is scheduled to commence in Q3 2018.
The Taiwan-based integrated solutions provider also recently signed a Memorandum of Understanding (“MOU”) with local marine and towage company Seagreen Enterprise (“Seagreen”).
This strategic partnership not only further broadens POSH Kerry’s service portfolio, but also supports the Taiwan government’s goal of building up local offshore marine capabilities through the exchange of knowledge and best practices. Under the partnership, Seagreen can leverage POSH’s extensive track record in executing complex offshore marine projects to enhance its operational know-how. Both POSH Kerry and Seagreen will also embark on joint initiatives to recruit, train and build up a pipeline of Taiwanese crew.
SINGAPORE, 24 June 2016 – Offshore marine services provider PACC Offshore Services Holdings Ltd. (“POSH”) today announced that it has been awarded a contract by Technip Oceania Pty Ltd through its subsidiary POSH Semco Pte Ltd, to support Shell’s Prelude floating liquefied natural gas (“FLNG”) facility using its semi-submersible accommodation vessel (“SSAV”) the “POSH Arcadia”.
The 750-pax POSH Arcadia will be deployed to provide accommodation support for the hook-up and commissioning phase of the Shell Prelude FLNG Project in the Browse Basin, off the north-west coast of Western Australia.
This is POSH’s second contract for the Prelude FLNG Project. In January 2016, the POSH Terasea joint venture, comprising POSH and Terasea Pte. Ltd., was appointed to provide towage and positioning services for the facility.
Chief Executive Officer of POSH, Captain Gerald Seow, said: “The contract award for the POSH Arcadia marks our second contract award for Shell’s Prelude FLNG Project. We will continue our focus on ensuring that POSH Arcadia delivers its services efficiently, safely and without incident.”
The POSH Arcadia is POSH’s second state-of-the-art SSAV. The 750-pax DP3 floatel is among the world’s largest SSAVs, designed to offer first class safety and comfort for operations in deep water and harsh environments. It is certified “Clean Comfort Class” by Det Norske Veritas, a leading international certification and classification group, reflecting the high environmental emission standards and stringent noise and vibration control requirements under which the vessel was designed and constructed to meet.
The latest contract award is not expected to have a material impact on the net tangible assets or earnings per share of the Group for the financial year ending 31 December, 2016.
