In the Public Expose on 24 June 2022,
To raise the yield of the fleet, the Company has improved the fleet composition through the sale and reinvestment of certain vessels. 95% of the fleet is now concentrated into higher value vessels. Wintermar now has seven Platform Supply Vessels, three of which are undergoing docking for reactivation and should be ready for operations by 2H2022. This is timed in anticipation of a stronger 2023 as there has been an increase in project approvals for offshore drilling and corresponding rise in demand for OSVs.
Finance Director
Managing Director, Sugiman Layanto reiterated an optimistic view for the coming years, with OSV charter rates projected to rise. This is due to the demand for OSVs rising in line with the jump in offshore drilling projects, while the supply of operationally ready OSVs is still limited due to the industry downturn over the past years.
In the longer term investments in renewable energy are expected to grow while investments in oil and gas are still projected to be stable to meet the energy needs of the world. As an OSV operator, Wintermar will benefit from higher demand for vessels initially from oil and gas industry but in the coming years additional upside in demand is expected from the offshore wind industry.
For the future, Wintermar will focus on higher value vessels to improve fleet yields and continue to improve cost efficiency.
As at end of
About
Wintermar is the first shipping company in
For further information, please contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
Tel: (62-21) 530 5201 Ext 401
Email: investor_relations@wintermar.com
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