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 both entities. The transactions, valued at US$26 million and US$7 million respectively, were approved with a fairness opinion from independent appraiser KJPP Tri, Santi dan Rekan, in compliance with OJK regulation POJK 42/2020.
FOS, a specialized shipbuilder with a yard in Singapore, has supplied offshore vessels in Brunei for a decade. In 2025, FOS won an international tender to supply five next-generation aluminum Crew Transfer Vessels (CTVs) to a major oil company in Brunei, with delivery scheduled for 2027. These 55-meter CTVs are designed for high operability, featuring motion-compensated gangways, DP systems, triple bow thrusters, and propulsion from four CAT engines (9,000 BHP) and four Hamilton HT810 waterjets. The vessels will be chartered for an initial five-year period with extension options. Additionally, FOS secured a shipbuilding contract to build and sell five more CTVs by 2028.
With the acquisition, Wintermar's high-tier fleet increases from 12 to 22 units, including the five newbuilds, and its DP fleet expands to 25 units. The average fleet age drops from 16 to 14 years, while long-term charters provide earnings visibility. The transaction also introduces a new revenue stream from shipbuilding. WINS will finance the acquisition through internal cash flow and a US$20 million loan.
Following the acquisition, FOI will become a fully domestic Indonesian company compliant with cabotage regulations, positioning it to meet expected demand for Indonesian-flagged aluminum vessels. The move allows WINS to fully consolidate earnings from the charter and shipbuilding contracts without minority leakage, strengthening its position as a leading OSV owner and operator of DP vessels in Asia.
Wintermar Offshore Marine Group (WINS.JK) operates a fleet of over 44 offshore support vessels and is certified with ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007. For more information, visit www.wintermar.com.
