Offshore marine services provider PACC Offshore Services Holdings (POSH) has secured long-term charters for five vessels in the Middle East. The contracts have a combined contract value of approximately US$85 million.

The first contract is for the group to supply four new utility vessels to the specific requirements of a Saudi Arabian national oil and gas major, primarily to support its offshore maintenance work in the Persian Gulf. The four newbuild vessels will be chartered for a firm period of five years, with options to extend. The charters will commence progressively from the first quarter of 2017, with the first three vessels to be delivered over the first half of 2017, and the fourth vessel to be delivered in June the same year.

The second contract is for one of the group’s anchor handlers for a Qatari client. Under the contract, the vessel will be chartered for a firm period of five years from the first quarter of 2016.