POSH eyeing new segments, markets after listing

POSH, one of the top offshore supply vessel (OSV) players, added it was also looking to explore the inspection, maintenance and repair (IMR) business, POSH noted that this would help complement the OSV services it now provides and provide better value to its customers. It is exploring the possibility of acquiring new asset classes such as multi-finction support vessels to make inroads into the segment.

POSH will also seek to use Mexico as a springboard into Latin America and in line with this will expand its presence there.

The company, a 21%-owned associate of Malaysian Bulk Carriers, has approved a capital expenditure budget of $291.5m to fund its fleet expansion programme. Reports last week said the IPO is estimated to raise up to $350m.