Singapore-listed operator of offshore support vessels and services, PACC Offshore Services Holdings (POSH), has acquired two companies registered in the British Virgin Islands for a total consideration value of USD2.00.

Pacific Cosmo Ventures, a wholly owned subsidiary of POSH, was acquired on 10 April with the registered capital of USD1.00. Likewise, Valley Ocean was bought over by POSH for the registered capital of USD1.00. Both companies were primarily engaged in the commercial shipping activities and marked POSH's second acquisition since the start of 2015.

POSH cited in its filing to the Singapore stock exchange that the acquisition will not be expected to have any material impact on the net tangible assets or earnings per share of the company for the financial year ending 2015.

Previously, POSH completed the acquisition of Netherlands-based offshore engineering company Eide Marine Offshore (EMO) in February. EMO is primarily involved in the renting and leasing of vessels and supporting activities for water transport. In addition, EMO is the contract holder for the charter of a semi-submersible accommodation vessel, POSH Xanadu, to oil drilling and production company Petrobras Netherlands.