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), giving it full control of the specialized shipbuilder and its fleet. The deal, valued at US$33 million, expands WINS’ high-tier fleet from 12 to 22 units and increases its DP fleet to 25 units, while adding a new earnings stream from shipbuilding.
FOS has a 10-year presence in Brunei and recently won an international tender to supply five next-generation aluminum Crew Transfer Vessels (CTV) to a major oil company, with delivery in 2027. These 55-meter CTVs are equipped with motion-compensated gangways, DP systems, triple bow thrusters, four CAT engines delivering 9,000 BHP, and four Hamilton HT810 waterjets. They will be chartered for an initial five-year period with extension options. Additionally, FOS secured a shipbuilding contract for five more CTVs to be delivered by 2028.
This acquisition addresses the global OSV industry’s demand growth amid limited new vessel supply. WINS’ fleet average age had risen to 16 years due to a lack of new building, but the addition of newbuild DP vessels with long-term contracts lowers the average age to 14 years and provides earnings visibility. The transaction is earnings accretive, as WINS can now fully consolidate revenues from the five-year charter and shipbuilding contract.
The acquisition was financed through internal cash flow and a US$20 million loan. It was conducted as an affiliated party transaction with Seacoral Maritime Pte Ltd, and an independent appraiser, KJPP Tri, Santi dan Rekan, issued a fairness opinion on June 17, 2026, in compliance with OJK regulation POJK 42/2020. Following the acquisition, FOI will be converted into a fully domestic Indonesian company compliant with cabotage regulations, targeting stronger Indonesian demand.
Wintermar Offshore Marine Group (WINS.JK) has operated for nearly 50 years, sailing a fleet of over 44 Offshore Support Vessels. The company is certified with ISO 9001:2015, ISO14001:2015, and OHSAS 18001:2007 by Lloyd's Register Quality Assurance. The acquisition of FOS expands WINS’ business scope and strengthens its position as a leading OSV owner and operator of DP vessels in Asia.
