A Newly Formed joint venture entitled 'POSH TeraSea' has resulted in the world's largest and youngest tug fleet of vessels for ocean towage services. Singapore based PACC Offshore Services Holdings (POSH), through its EPIC division, announced on 5 March 2013 the formation of a joint venture company 'POSH TeraSea Pte Ltd', combining with TeraSea Pte Ltd. POSH will contribute to the joint venture a fleet of five specialised anchor handlers of between 12,000 bhp and 13,500 bhp and TeraSea is to contribute four 16,300 bhp modern deepwater anchorhandlers still under construction.
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