PT Wintermar Offshore Marine Tbk (WINS) has acquired full possession of Fast Offshore Supply Pte Ltd (FOS) and its subsidiary PT Fast Offshore Indonesia (FOI), increasing its operations into the constructing and operation of Fast Aluminium Crew Transfer Vessels (CTV). The acquisition includes buying the remaining 52.5% of FOS from Seacoral Maritime Pte Ltd and 49% of FOI, at a valuation of $26 million and $7 million, respectively.
FOS, a specialised shipbuilder based mostly in Singapore, has a big presence in Brunei, the place it has provided offshore vessels for a decade. In 2025, FOS secured a global tender to provide 5 next-generation aluminum CTVs to a significant oil firm in Brunei, with supply scheduled for 2027. These vessels will likely be chartered for an preliminary five-year interval, with choices to increase.
Following this, FOS was awarded a shipbuilding contract by the identical consumer to assemble and promote an extra 5 CTVs by 2028. These 55-meter vessels are designed to fulfill stringent necessities and are outfitted with superior options resembling motion-compensated gangways, DP techniques, and triple bow thrusters, powered by 4 CAT engines delivering 9,000 BHP and 4 Hamilton HT810 waterjets.
The acquisition will improve Wintermar’s high-tier fleet from 12 to 22 models, together with the newly constructed CTVs, and develop its DP fleet to 25 models. This transfer comes amid robust oil costs and rising demand within the offshore assist vessel (OSV) trade, the place provide has been restricted lately.
By buying FOS and FOI, Wintermar goals to decrease the common age of its fleet from 16 to 14 years, offering earnings visibility and introducing a brand new income stream from shipbuilding. The transaction has been deemed truthful by an impartial appraiser, complying with OJK regulation POJK 42/2020 relating to affiliated celebration transactions.
Wintermar will finance the acquisition by way of inside money circulation and a $20 million mortgage. Post-acquisition, FOI will likely be transformed into a completely home Indonesian firm to adjust to native cabotage rules, specializing in supplying Indonesian-flagged aluminum vessels to fulfill anticipated demand progress.
This strategic acquisition strengthens Wintermar’s place as a number one OSV proprietor and operator in Asia, permitting it to completely seize the monetary advantages of the constitution and shipbuilding contracts with out minority leakage.