WINS Takes Over PSV ‘WM Natuna’ (Indonesia)

The management of WINS announced it has taken delivery of “WM Natuna”, the company’s latest Platform Supply Vessel (PSV). This latest vessel, together with their other two PSVs, WM Massar and WM Sulawesi are the only three Indonesian flagged PSVs in the 3500 dwt class, thereby strengthening their market leadership in this segment of the Offshore Support Vessel (OSV) market in Indonesia.

WM Natuna is equipped with DP2 (Dynamic Positioning) and has Oil recovery capability. Classified with ABS + A1(E) Offshore Support Vessel notation, she also has ERRV certification ( Emergency Rescue and Response) and Fifi class 1 (firefighting). Her 20 cabins can accommodate up to 50 passengers.

They are currently in the process of tendering for several contracts for WM Natuna to support oil and gas exploration.

WM Natuna was built in China and is owned by PT WM Offshore, a 51% subsidiary of PT Wintermar Offshore Marine Tbk and a joint venture with PT Meratus Line. Funding for WM Natuna will be through 30% shareholders funds and 70% bank loan with an international financial institution.

Platform Supply Vessels are designed to supply offshore oil platforms, transport goods and personnel to and from offshore oil platforms and other offshore structures. They also have Cargo tanks designed for drilling mud, pulverized cement, diesel fuel, potable and non-potable water, and chemicals used in the drilling process. Fuel, water, and chemicals are almost always required by oil platforms.

This is the second new vessel delivery for WINS in 2013, the first being a 330 feet ballastable offshore barge, WINPOSH 3301. They have plans for 8 new vessels in this financial year, with a total capex of about USD60 million. These include Fast Utility Vessels, Anchor Handling Tugs, Utility Vessels in addition to the two vessels already delivered. This compares with 3 new vessel deliveries in 2012 comprising 2 units of 8000 BHP Anchor handling tug supply (AHTS) and one Anchor Handling Tug.

As at end January 2013, the total contracts on hand are worth USD193 million.

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WINS, February 27, 2013