PT Wintermar Offshore Marine Tbk (WINS) has acquired the remaining 52.5% stake in Fast Offshore Supply Pte Ltd (FOS) and 49% of PT Fast Offshore Indonesia (FOI), gaining full control of the companies. The acquisition, valued at US$26 million for FOS and US$7 million for FOI, adds five newbuild dynamic positioning (DP) crew transfer vessels (CTVs) scheduled for delivery in 2027, along with a shipbuilding contract for five additional units by 2028.
FOS has a strong presence in Brunei, having supplied offshore vessels there for a decade. In 2025, FOS won an international tender to supply five next-generation aluminum CTVs to a major oil company in Brunei, with an initial five-year charter and options to extend. The same client also awarded FOS a contract to build and sell five additional CTVs by 2028. These 55-meter vessels are designed for high operability year-round, featuring motion-compensated gangways, DP systems, triple bow thrusters, and four CAT engines delivering 9,000 BHP with Hamilton HT810 waterjets.
WINS financed the acquisition through internal cash flow and a US$20 million loan. The transaction, reviewed by an independent appraiser and compliant with OJK regulation POJK 42/2020, is earnings accretive as WINS will fully consolidate earnings from the charter and shipbuilding contracts. Following the acquisition, FOI will convert to a fully domestic Indonesian company, focusing on supplying Indonesian-flagged aluminum vessels in anticipation of stronger local demand.
With this acquisition, Wintermar's high-tier fleet increases from 12 to 22 units, including the newbuild CTVs, while its DP fleet grows to 25 units. The average fleet age drops from 16 to 14 years, providing earnings visibility and introducing a new revenue stream from shipbuilding. The offshore support vessel industry faces demand growth amid limited new supply, and this move strengthens WINS's position as a leading DP vessel owner in Asia.
Wintermar Offshore Marine Group, with nearly 50 years of experience, operates a fleet of over 44 offshore support vessels. The company is ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007 certified. For more information, visit www.wintermar.com.
