Wintermar Offshore Invests in Bruneian Company for Offshore Supply Vessel Operations
London, 02 February 2024, (Oilandgaspress) –PT Wintermar Offshore Marine Tbk (WINS:JK) entered a strategic venture through a 49% stake in SAVWIN Sdn Bhd with a Brunei-based partner.
Through this partnership, Wintermar will have an advantage in tendering for longer term contracts in Brunei which favour local content. Savwin Sdn Bhd will initially operate a Fast Multi-Purpose Supply Vessel which is currently on a long term contract in Brunei until 2027. This initiative signifies our strategic expansion to enhancing our maritime service offerings and strengthening our local presence in Brunei’s maritime sector, where Wintermar has been operating since 2014.
Wintermar group’s 4Q2023 fleet utilization reached 74%, which was better than 70% recorded in 3Q2023. Total contracts on hand as at 31 December 2023 amounted to US$ 82 million.
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