SINGAPORE, 11 SEPTEMBER 2019 – Offshore marine services provider PACC Offshore Services Holdings Ltd. (“POSH”) and asset management company Ocean Challenger Pte. Ltd. (“Ocean Challenger”) have entered into a ship management agreement for semi- submersible crane vessel (SSCV) CIMC Gretha, as part of a strategic partnership.

The agreement for CIMC Gretha has POSH taking over ship management duties for the vessel from July 2019. This is in line with the goals of the strategic partnership between POSH and Ocean Challenger to leverage their respective strengths in offshore marine operations as well as shipbuilding and engineering to jointly cater to a wider portfolio of clients.

Equipped with DP3 dynamic positioning system, the cutting-edge CIMC Gretha SSCV has two 1,800-tonne cranes offering heavy lift capacity and offshore accommodation facilities configured for up to 608 persons on board. This makes the SSCV suitable for deployment even in harsh conditions.

POSH is a leading offshore marine services provider with an established track record for executing complex offshore energy projects, and brings to the partnership over 60 years of specialised offshore marine expertise.

Ocean Challenger is the offshore assets management company of the CIMC Group and its CIMC Raffles subsidiary. Ocean Challenger is in charge of management of the Group’s offshore assets.

Mr Ulva Chai, Director of Offshore Accommodation, POSH, said, “The addition of CIMC Gretha enhances POSH’s portfolio to provide our clients with diversified service offerings. With the semi-submersible accommodation vessel space becoming more competitive, CIMC Gretha broadens our offshore accommodation capabilities to also include decommissioning and heavy construction activities. We look forward to even more opportunities to work with CIMC in providing services to a wider range of customers.”

Mr Yu Jianhui, General Manager, Ocean Challenger, said, “As a leading offshore equipment and contract services provider, we look to work with strong partners to grow together globally. We are fully confident of POSH’s track record of operational excellence and safety and look forward to the partnership of the CIMC Gretha. This will be just the first step as we continue exploring further collaborations in our strategic partnership.”

****

For further information or to speak to a POSH spokesperson, please contact:

Ms Kelly Shia, POSH, Corporate Affairs and Business Development, +65 6839 7860, kelly.shia@paccoffshore.com.sg

Ms Hoong Huifang, WATATAWA Consulting, Manager, +65 9128 0762, hhoong@we-watatawa.com