WINS Takes Delivery of Its Latest PSV

February 27, 2013

The management of Wintermar Offshore Marine (WINS) has taken delivery of “WM Natuna”, its latest Platform Supply Vessel (PSV). WM Natuna is equipped with DP2 (Dynamic Positioning) and has Oil recovery capability.

Classified with ABS + A1(E) Offshore Support Vessel notation, she also has ERRV certification ( Emergency Rescue and Response) and Fifi class 1 (firefighting). Her 20 cabins can accommodate up to 50 passengers.

WM Natuna was built in China and is owned by PT WM Offshore, a 51% subsidiary of PT Wintermar Offshore Marine Tbk and a joint venture with PT Meratus Line. Funding for WM Natuna will be through 30% shareholders funds and 70% bank loan with an international financial institution.

This is the second new vessel delivery for WINS in 2013, the first being a 330 feet ballastable offshore barge, WINPOSH 3301. The company havs plans for 8 new vessels in this financial year, with a total capex of about USD60 million. These include Fast Utility Vessels, Anchor Handling Tugs, Utility Vessels in addition to the two vessels already delivered. This compares with 3 new vessel deliveries in 2012 comprising 2 units of 8000 BHP Anchor handling tug supply (AHTS) and one Anchor Handling Tug.

Platform Supply Vessels are designed to supply offshore oil platforms, transport goods and personnel to and from offshore oil platforms and other offshore structures. They also have Cargo tanks designed for drilling mud, pulverized cement, diesel fuel, potable and non-potable water, and chemicals used in the drilling process. Fuel, water, and chemicals are almost always required by oil platforms.

Press Release, February 27, 2013