PT Wintermar Offshore Marine Tbk (WINS) has acquired the remaining 52.5% shareholding of Fast Offshore Supply Pte Ltd (FOS) and 49% of PT Fast Offshore Indonesia (FOI), gaining full control of both entities. The acquisition, valued at US$26 million for FOS and US$7 million for FOI, was financed through internal cash flow and a US$20 million loan. The transaction is earnings accretive and compliant with OJK regulation POJK 42/2020, as confirmed by an independent appraiser.
FOS has a significant presence in Brunei, having supplied offshore vessels there for a decade. In 2025, FOS won an international tender to supply five next-generation aluminum Crew Transfer Vessels (CTVs) to a major oil company in Brunei, with delivery in 2027. These 55-meter vessels are equipped with motion-compensated gangways, DP systems, triple bow thrusters, four CAT engines delivering 9,000 BHP, and four Hamilton HT810 waterjets, ensuring high operability and safe personnel transfer. The vessels will be chartered for an initial five-year period with extension options. Additionally, FOS secured a shipbuilding contract for five more CTVs by 2028.
With this acquisition, Wintermar's high-tier fleet increases from 12 to 22 units, including the five newbuild CTVs, and its DP fleet grows to 25 units. The average fleet age drops from 16 to 14 years, providing younger assets with long-term contracts. The company also gains a new earnings stream from shipbuilding. Strong oil prices have driven demand for offshore support vessels, while new vessel supply remains limited, making this expansion strategically important.
FOS is a specialized shipbuilder with a yard in Singapore, having built aluminum vessels since 2008. It currently owns seven Fast Multi-purpose Aluminum Vessels. Following the acquisition, FOI will be converted into a fully domestic Indonesian company compliant with cabotage regulations, focusing on supplying Indonesian-flagged aluminum vessels in anticipation of growing domestic demand.
Wintermar's CEO stated that the acquisition strengthens the company's position as a leading OSV owner and operator of DP vessels in Asia, providing full consolidation of earnings from the charter and shipbuilding contracts without minority leakage. The transaction expands the business scope and improves earnings visibility for the group.
For more information, visit www.wintermar.com.
