Indonesian offshore vessel operator PT Wintermar Offshore Marine (WINS) has acquired the remaining stakes in Singapore-based Fast Offshore Supply (FOS) and its subsidiary PT Fast Offshore Indonesia (FOI), gaining full control of both companies and expanding into the building and operation of aluminium crew transfer vessels (CTVs).
WINS acquired the remaining 52.5% shareholding in FOS and the remaining 49% stake in FOI, which it previously owned jointly with FOS.
FOS won an international tender in 2025 to supply five next-generation aluminium crew transfer vessels to a major oil company in Brunei, with delivery scheduled for 2027. The vessels will be owned by FOS and chartered under an initial five-year contract with extension options.
FOS was subsequently awarded a shipbuilding contract by the same client to build and sell an additional five crew transfer vessels for delivery in 2028.
Following the acquisition, WINS’ high-tier fleet will increase from 12 to 22 vessels, including the five newbuild crew transfer vessels, while its owned dynamic positioning fleet will increase to 25 vessels.
The company said the acquisition would lower the average age of its fleet to 14 years from 16 years and introduce a new earnings stream from shipbuilding.
WINS is acquiring the 52.5% stake in FOS from Seacoral Maritime for $26 million and the 49% stake in FOI from FOS for $7 million. The acquisitions will be financed through internal cash flow and a $20 million loan.
Following the transaction, FOI will be converted into a fully domestic Indonesian company compliant with Indonesian cabotage regulations and will focus on supplying Indonesian-flagged aluminium vessels.
Subscribe
