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Wintermar to spend $60m on fleet expansion in 2014

Indonesian shipping firm Wintermar Offshore Marine has budgeted $60m to buy five new ships as part of its fleet expansion plans this year, local reports said.

Vincent Wee, Hong Kong and South East Asia Correspondent

April 28, 2014

1 Min Read
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Two of the new vessels would be delivered this month, another one in the middle of this year and the remaining two at year-end, bringing Wintermar’s fleet size to 71 head of corporate planning Pek Swan Layanto, was quoted as saying.

The company's pace of expansion has however slowed from last year when it spent about $90m on12 ships.Layanto had expressed concerns about lower demand for its transportation services this year as Indonesia's upcoming legislative and presidential elections will slow the issuance of mining permits.

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About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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