The newly established company has secured a five-year contract with Brunei Shell and Wintermar is allocating $5.5m for the unit's operations this year.
The company has been aggressive in the expansion of its overseas operations, pinning its hopes on securing 80% of a $168m contract target for this year from outside Indonesia.
Other than Brunei, Wintermar currently operates two vessels involved in mid-term contracts in India; another two in Myanmar's spot market; and one in Vietnam.
Wintermar has also allocated a separate $6m in capital expenditure this year, which will include the budget for purchase of a high-tier vessel worth $4.2m.
The company's existing 74 high-tier vessels have been operating in Australia, Brunei, Russia and Myanmar, Wintermar managing director Sugiman Layanto was quoted as saying.
The company saw its fleet utilisation drop to 61% in the January-March period from 70% in the same period last year due to low activity in the oil and gas industry, Wintermar spokesman Pek Swan Layanto said.
In line with that, Wintermar's revenues were down 39% to $29.3m and the company suffered a $1.4m net loss in the first three months of the year.
Wintermar is currently looking at opportunities in the Southeast Asia region to improve its vessel utilisation rate, she said.
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