Tag: Offshore

JAKARTA, Mar 28, 2024 – (ACN Newswire) – Wintermar Offshore Marine (WINS:JK) has announced results for FY2023. Wintermar’s net attributable profit jumped by 501.1%YOY to US$ 6.7 million for FY2023 backed by higher charter rates. Higher utilization and rising charter rates towards the 4th quarter lifted gross margins and led to a strong operational performance in FY2023 with EBITDA up 24.4% to US$21.8million on total revenue of US$72.6 million (+19.0%YOY).  Owned Vessel Division The Owned Vessel Division’s revenue saw a 33.3% YOY increase to US$ 48.2 million, outpacing the owned vessel direct cost growth of 22.4%. Maintenance costs increased by 70.9% ... Read more

On January 30, 2024, 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 ... Read more

SBM Offshore and Mitsubishi Heavy Industries Ltd. (MHI) are pleased to announce the signing of a Partnership Agreement that will offer a CO2 capture solution for Floating Production Storage and Offloading vessels (FPSO) as they are producing oil and gas from offshore reservoirs. The agreement follows a successful engineering and design study between the companies demonstrating the technical feasibility and commercial readiness of CO2 capture technology offshore. Visit to MHI headquarters by SBM Offshore executives The CO2 capture solution will apply MHI’s proprietary “Advanced KM CDR Process” technology, jointly developed with The Kansai Electric Power Co., Inc. The technology enables ... Read more

PT Wintermar Offshore Marine Tbk (WINS:JK) has announced results for 1H2023. Wintermar’s Gross Profit from Owned Vessels jumps to US$3.1 million for 1H2023 from US$0.2 million in 1H2022 on the back of 32.6%YOY increase in Owned Vessels revenue to US$ 19.2 million. Total Gross Profit increased 140%YOY to US$5.4 million for 1H2023, while total revenues were 24.4% higher at US$31 million, largely driven by higher charter rates and additional fleet commencing operations. Owned Vessel Division In the first half of 2023, Owned Vessel gross profit experienced an exceptional increase to US$3.1 million, generated from revenues of US$19.2 million. This was ... Read more

PT Wintermar Offshore Marine Tbk (WINS:JK) invested US$3.15 million out of capex plan of US$18 million in 2023, and expects higher demand for OSVs driven by a jump in approved deepwater oil and gas investments and tight OSV supply. During the Public Expose on 16 June 2023, PT Wintermar Offshore Marine Tbk unveiled its strategic plans to enhance fleet composition and profitability, positioning itself to capitalize on the anticipated upturn in the oil and gas industry. The Company expressed a bullish outlook on O&G as a jump in approved investments in deepwater projects is expected to raise the demand for ... Read more