JAKARTA (Yosefardi) – PT Wintermar Offshore Marines Services Tbk (WINS), one of substantial players in the offshore support vessels (OSV) market in Indonesia, allocates US$65 million capital expenditure (capex) for purchasing 5 new vessels this year.
The company has purchased 3 vessels in first quarter of this year and plans to acquire 4 vessels for supporting deepwater activity.
Earlier WINS had obtained loan of US$10 million from IFC, subsidiary of World Bank, then IFC holds 4.92% stake in WINS.
In 2013, WINS purchased 12 new vessels at total value of US$90 million and sold 5 low tier vessels. Now the company’s operates 74 vessels.
The government of Indonesia has approved total investment of US$25.64 billion for oil and gas sector this year, a 32.6% rise compared to US$19.34 billion in 2013.
WINS booked net profit of US$7.6 million in first quarter of this year on revenues of US$45.5 million. Compared to first quarter of last year, net profit grew by 30% while revenues rose 16%.