WINS takes delivery of third PSV
Thursday, February 28 2013 - 01:33 AM WIB
IDX-listed Wintermar Offshore Marine Tbk (WINS) said it has taken delivery of its third platform supply vessel (PSV) called WM Natuna.
The latest vessel adds to its existing two other PSVs called WM Makassar and WM Sulawesi, which are the only Indonesian flagged PSVs in the 3,500 dwt class, thus strengthening the company?s market leadership in this segment of the offshore support vessel (OSV) market in Indonesia, the company said in a statement received Wednesday.
The statement said that WM Natuna is equipped with DP2 (Dynamic Positioning) and has Oil recovery capability. Classified with ABS + A1(E) Offshore Support Vessel notation, she also has ERRV certification ( Emergency Rescue and Response) and Fifi class 1 (firefighting). Her 20 cabins can accommodate up to 50 passengers.
?We are currently in the process of tendering for several contracts for WM Natuna to support oil and gas exploration,? WINS said.
WM Natuna was built in China and is owned by PT WM Offshore, a 51 percent subsidiary of WINS under a joint venture with PT Meratus Line. Funding for
WM Natuna will be through 30 percent shareholders funds and 70 percent bank loan with an international financial institution, WINS said.
Platform supply vessels are designed to supply offshore oil platforms, transport goods and personnel to and from offshore oil platforms and other offshore structures. They also have.
This is the second new vessel delivery for WINS in 2013, the first being a 330 feet ballastable offshore barge, WINPOSH 3301.
?We have plans for 8 new vessels in this financial year, with a total capex of about US$60million. These include Fast Utility Vessels, Anchor Handling Tugs, Utility Vessels in addition to the two vessels already delivered,? WINS said. This compares with 3 new vessel deliveries in 2012.
As at end January 2013, the total contracts on hand are worth $193million, the company said.
Editing by Reiner Siamnjuntak