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POSH sees steady pick-up in vessel utilisation but widens first-quarter loss

The group sees a slight uptick in offshore construction activities as projects that were sanctioned in previous years gradually come on stream. Meanwhile, short- to mid-term vessel oversupply will be eased by the attrition of older vessels, the group added

New chief executive Lee Keng Lin is encouraged that new businesses in the subsea and renewables segments are already gaining traction and the company is set to expand offerings in these growth areas

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