The revival of the offshore sector due to high oil prices has put Singapore-based PACC Offshore Services Holdings (POSH) is in expansion mode with the purchase of a multipurpose construction vessel from the fleet of Norway’s BOA Offshore.

POSH has acquired the 119-metre DP-3 offshore construction vessel BOA Deep C (built 2004), a vessel that is owned by BOA OCV AS.

BOA OCV announced in July it was in the process of selling its two ships, the BOA Deep C and the 139-metre BOA Sub C (built 2007), and at the same time, ownership of its shares were being transferred to NT Refectio 24 AS, a company held by Stiftelsen Refectio, a foundation established to effectively secure the bondholders’ interest in...