Wintermar sets up subsidiary in India

By Thomas Sembiring

IDX-listed shipping company PT Wintermar Offshore Marine Tbk has set up a subsidiary in India called Windia Offshore Private Ltd in a bid to grab greater shipping contracts in the particular market.

?To obtain more contracts, we must set up (a subsidiary) in India,? said Pek Wan Layanto, Head of Investor Relations at the company on Monday.

He said that company?s business volume from the Indian market has been relatively small where it operates mid-tier vessels. He said that Wintermar aims to deploy the high-tier vessels to India.

Meanwhile, Wintermar President Director Sugiman Layanto said that the Indian shipping market has been divided into two segments, one serve by India-based firms, another by non-India firms. He said that many shipping contracts have been prioritized for the India-based shipping companies, thus the move by Wintermar to set up the Indian subsidiary.

Editing by Reiner Simanjuntak