POSH: Tipped to win 2nd contract with a Shell-operated FLNG project.
-The tender is to deploy the Arcadia semi-submersible accommodation vessel (SSAV) to support the installation of the Prelude FLNG off Western Australia.
-The work is expected to be for six months, with extension options. Contract value undisclosed, but similar SSAV, the Safe Boreas was recently contracted at US$60m for eight months to provide production support in the North Sea.
-A contract win would boost POSH's offshore accommodation business.
-MKE likes PACC Offshore (Buy, TP $0.42) due to strong balance sheet and Kuok Group backing.
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