Wintermar obtains new contracts in three countries

By Thomas Sembiring

IDX-listed shipping company PT Wintermar Offshore Marine Tbk has obtained new contracts to provide support vessels for oil drilling operations in three countries.

This was said by Sugiman Layanto, President Director of Wintermar on Tuesday. He said that the new contracts would help the company survive the current industry downturn.

Sugiman said that Wintermar will provide one vessel for oil operations in Venezuela, two vessels in Papua New Guinea (PNG), and one in the Middle East.

He said that the vessel charter contract in Venezuela is for three years to be reviewed annually, while the contract in the Middle East is for seven years, and in PNG is a short-term six-month contract.

He said that despite the current less stable political condition in Venezuela, it?s a new market for Wintermar which would provide long-term profit for the company if political condition in the country improves.

Editing by Reiner Simanjuntak