Wintermar Offshore to add two vessels by year-end

PT Wintermar Offshore Marine Tbk, an offshore oil and gas supporting company, plans to obtain bank loan worth US$ 30 million to buy two more vessels this year to boost its business on the back of increasing activities from oil and gas sector due to high global oil price.

Wintermar plans to buy an azimuth stern drive (ASD) tugboat worth around $5 million and an anchor handling tug supply (AHTS) worth $20 million.

Investor Relations Pek Swan Layanto was quoted by Kontan as saying that the company may obtain the loan in November or December this year.

He added that the company would need to secure contract for AHTS before making the purchase as such vessel requires heftier investment. The company currently operates 66 vessels and had said it planned it add another 8 vessels next year.

This year Wintermar takes part in 42 tenders to lease its vessels amounting to Rp 803 billion ($ 93.6 million).

Among contracts that it had won so far this year including contract from PT Pertamina Hulu Energy West Madura Offshore worth US$11.3 million. It has also won three-year contract from West Natuna Transportation System in collaboration with three other consortia members, worth $ 12.5 million.

At present, Wintermar operates 66 various types of vessels. Next year, it plans to add eight more vessels, three of them were fast utility vessel. (*)