WINS Acquires Control of 5 Newbuilt DP Crew Transfer Vessels Through Acquisition of Controlling Stake in Fast Offshore Supply Pte Ltd
JAKARTA, June 23, 2026 - (ACN Newswire) -WINS acquires control through taking full ownership of Fast Offshore Supply Pte Ltd, expanding into the building and operation of Fast Aluminium Crew Transfer Vessels (CTV) with 5 units of new CTVs to be delivered in 2027 and a shipbuilding contract of 5 additional units for 2028 delivery.
PT Wintermar Offshore Marine Tbk (WINS) has acquired the remaining 52.5% shareholding of associated company Fast Offshore Supply Pte Ltd ("FOS") in Singapore, and 49% of PT Fast Offshore Indonesia ("FOI"), in which WINS previously had a 51% stake, thereby gaining full control of FOS and its subsidiary FOI.
FOS has a significant presence in Brunei, having supplied offshore vessels there for 10 years. In 2025, FOS won an international tender to supply 5 units of next generation aluminum Crew Transfer Vessels (CTV) to a major oil company in Brunei, with delivery in 2027. These 5 units will be owned by FOS and chartered for an initial 5-year period with options to extend. Subsequently, FOS was awarded a shipbuilding contract by the same client to build and sell an additional 5 units of CTVs by 2028. These 55m CTVs are innovatively designed to meet stringent requirements, particularly for availability and operability throughout the year. Equipped with a motion-compensated gangway for safe personnel transfer to offshore platforms, DP systems, and triple bow thrusters, they will be powered by 4 units of CAT engines delivering 9,000 BHP and 4 units of Hamilton HT810 waterjets for propulsion. These high tier vessels provide critical station-keeping capability for safe personnel and cargo transportation services.
FOS is a specialized shipbuilder, having designed and built aluminum vessels in their shipyard in Singapore since 2008. FOS currently owns 7 units of Fast Multi-purpose Aluminum Vessels (FMPV), which were built in FOS's shipyard in Singapore. With the acquisition, Wintermar's high tier fleet will increase from 12 to 22 units including the 5 new build CTVs, while the DP fleet owned will increase to 25 units.
With strong oil prices, the OSV industry globally has demand growth while supply of new vessels has been limited. The lack of significant new building in the past years has also brought the average age of Wintermar's fleet up to 16 years. This acquisition brings a fleet of newly built DP vessels with long term contracts, thus lowering the average age of the fleet to 14 years and providing earnings visibility, as well as introducing a new earnings stream from shipbuilding.
The Company is acquiring 52.5% of FOS from Seacoral Maritime Pte Ltd, an affiliated company of WINS, at a valuation of US$26 million, and 49% of FOI from FOS at US$7 million. The acquisition prices are in line with the independent valuation report, and this transaction has obtained a fairness opinion issued by an Independent Appraiser, KJPP Tri, Santi dan Rekan, dated 17 June 2026, in compliance with OJK regulation POJK 42/2020 regarding Affiliated Party Transactions and Potential Conflict of Interest Transactions, which states that the affiliated party transaction by WINS is fair. The transaction value represents a price-to-book ratio of 1.01% (FOS) and 0.96% (FOI) and is earnings accretive, as WINS will be able to fully consolidate the earnings arising from the 5-year charter and the shipbuilding contract. WINS will finance the acquisition through internal cash flow and a loan of US$20 million. Following the acquisition, FOI will be converted to a fully domestic Indonesian company compliant with Indonesian cabotage regulations and will focus on supplying Indonesian-flagged aluminum vessels in anticipation of stronger Indonesian demand.
With the acquisitions, FOS and FOI will become wholly owned subsidiaries of WINS, allowing WINS to fully capture the financial upside of the imminent charter and shipbuilding contracts without minority leakage. WINS has further strengthened its position as a leading OSV owner and operator of DP vessels in Asia and acquired a new fleet of DP vessels with long term contracts. This acquisition has expanded the scope of business and improves earnings visibility for the WINS group.
About Wintermar Offshore Marine Group
Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 44 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.
Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd's Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.
For further information, please contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel +62-21 530 5201 Ext 401
Email: investor_relations@wintermar.com
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