PT Wintermar Offshore Marine Tbk (WINS) has acquired the remaining 52.5% shareholding of Fast Offshore Supply Pte Ltd (FOS) and the 49% it did not already own of PT Fast Offshore Indonesia (FOI), taking full control of both entities. The transaction, valued at a total of US$33 million, expands WINS’s fleet with five newbuild dynamic positioning (DP) crew transfer vessels (CTVs) scheduled for delivery in 2027 and a shipbuilding contract for five additional CTVs by 2028.
FOS, a specialized aluminum vessel builder and operator based in Singapore, has a decade-long presence in Brunei. In 2025, it secured an international tender to supply five next-generation aluminum CTVs to a major oil company in Brunei. These 55-meter vessels are designed for high operability year-round, featuring 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 was awarded a shipbuilding contract for five more identical CTVs, to be delivered by 2028.
With this acquisition, WINS’s high-tier fleet increases from 12 to 22 units, including the five newbuild CTVs, and its owned DP fleet rises to 25 units. The average fleet age drops from 16 to 14 years, enhancing operational efficiency. The long-term charters and shipbuilding contract provide earnings visibility and introduce a new revenue stream from vessel construction.
WINS acquired the 52.5% stake in FOS from Seacoral Maritime Pte Ltd, an affiliated company, at a valuation of US$26 million, and the 49% of FOI from FOS for US$7 million. The purchase prices align with an independent valuation and have received a fairness opinion from KJPP Tri, Santi dan Rekan, dated 17 June 2026, complying with OJK regulation POJK 42/2020. The transaction is earnings accretive, allowing WINS to fully consolidate profits from the charter and shipbuilding contracts. Financing will come from internal cash flow and a US$20 million loan.
Following the acquisition, FOI will be converted into a wholly domestic Indonesian company compliant with cabotage regulations, positioning it to meet anticipated demand for Indonesian-flagged aluminum vessels. WINS expects stronger demand in Indonesia, further supporting the strategic rationale for the deal.
Wintermar Offshore Marine Group, with nearly 50 years of history, operates a fleet of over 44 offshore support vessels. The company is ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007 certified. More information is available at www.wintermar.com.
