Wintermar Offshore (WINS:JK) Celebrates 10th Anniversary of IDX Listing

Dec 01, 2020 17:00 JST

Source: PT Wintermar Offshore Marine Tbk

Wintermar commemorated 10 years as a publicly listed company on the Indonesian Stock exchange on 29 Nov 2020.

JAKARTA, Dec 01, 2020 - (ACN Newswire) - Wintermar is pleased to commemorate the 10th anniversary of its status as a public company listed on the Indonesian Stock exchange. The Company has transformed in 10 years into a leader in the Indonesian offshore vessel industry, with experience in over 13 countries, and is now ranked amongst the top 10 Offshore Companies in Asia Pacific by Clarksons Research.

Building Quality and Sustainability

The Management's efforts to build a sustainable company based on the Core Value of Integrity has been recognized by the strong support of international and multinational clients. Wintermar's ability to compete in international markets is the fruit of years of building up a strong internal management system to uphold high standards of quality, safety and care for the environment. In 2019, Wintermar became a signatory of the Brunei Energy Industry Integrity Pact, joining leaders in the energy industry in the commitment to and promotion of ethical practices. In 2020, the Company achieved the ISO 45001: 2018 certification for Occupational Health and Safety management system and issued the first standalone Sustainability Report 2019 which outlines and highlights the priority placed on Sustainability of People, Planet and Profit in which is encompassed in the Company's Management System.

Transformation into streamlined company with low gearing and focus on value added fleet

Over the past 10 years, management has led and guided the transformation of the Company into a lean and focused organization with an internationally competitive fleet, managed by high performing staff and well-trained crew. Through a fleet regeneration program, Wintermar has sold most of the low tier fleet and is now focused on a smaller fleet focusing on higher value added vessels comprising Platform Supply Vessels (PSVs), Anchor Handling Tug Supply (AHTS), Fast Multi-Purpose Vessels (FMPV), Anchor handling tugs and harbour tugs. Despite unfavourable business conditions due to the oil and gas market downturn since 2015, the Company has managed to consistently produce positive EBITDA and has reduced the net gearing from a peak of 79% in 2012 to only 34% as at end September 2020.

As business conditions are starting to improve with a more optimistic outlook for 2021, the Company is poised to make a strong recovery in the coming years.

Over the past few weeks, as more tenders are being announced, the Contracts on hand have started to pick up, amounting to US$73 million by end October 2020 from US$70 million at the end of September 2020.

Contact:

Ms. Pek Swan Layanto, CFA  
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel: +62-21 530 5201 Ext 401
Email: investor_relations@wintermar.com

Source: PT Wintermar Offshore Marine Tbk
Sectors: Marine & Offshore

Related Press Release

Wintermar Offshore (WINS:JK) Reports 1Q2024 Results

April 30 2024 16:48 JST

Wintermar Offshore (WINS:JK) Reports FY2023 Results

March 29 2024 10:15 JST

Wintermar Offshore (WINS:JK) Invests in Bruneian Company for Offshore Supply Vessel Operations

February 02 2024 14:00 JST

Wintermar Offshore (WINS:JK) Reports 9M2023 Results

October 30 2023 11:00 JST

Wintermar Offshore (WINS:JK) Reports 1H2023 Results

July 31 2023 17:00 JST

Wintermar Offshore (WINS:JK) Public Expose 2023

June 16 2023 15:45 JST

Wintermar Offshore (WINS:JK) Reports 1Q2023 Results

April 27 2023 21:00 JST

Wintermar Offshore (WINS:JK) Wins Silver Award for Asia's Best SME Sustainability Reporting Award

April 03 2023 14:00 JST

Wintermar Offshore (WINS:JK) Reports FY2022 Results

March 31 2023 11:00 JST

Wintermar Offshore (WINS:JK) Fully Repays USD 45 Million Loan to IFC

December 06 2022 12:00 JST

More Press release >>

Latest Press Release

DOCOMO to Launch "NTT DOCOMO GLOBAL" for Global Expansion
May 10, 2024 18:13 JST

Release of "Fugaku-LLM" - a large language model trained on the supercomputer "Fugaku"
May 10, 2024 12:20 JST

Paltalk, Inc. Reports Slight Increase in Revenue and 33% Reduction in Net Loss for First Quarter 2024
May 09, 2024 20:39 JST

Honda Opens New R&D Facility in Bengaluru to Accelerate Electrification in India
May 09, 2024 14:13 JST

Fujitsu introduces "explainable AI" for use in genomic medicine and cancer treatment planning
May 09, 2024 10:41 JST

Mitsubishi Heavy Industries Increases Dividends on Back of Historically High FY2023 Results, Releases FY2024 Guidance
May 08, 2024 14:27 JST

Rome becomes the first European city to offer open loop transit payments to JCB Cardmembers
May 08, 2024 12:00 JST

NEC X Invests in Public Safety Startup Multitude Insights, Scaling AI-Powered Collaboration and Information Sharing for Law Enforcement
May 08, 2024 10:24 JST

ServiceNow and Fujitsu announce strategic commitment to launch innovative cross-industry solutions
May 08, 2024 08:52 JST

Fujitsu launches mainframe modernization automation service for the Japanese market
May 07, 2024 17:53 JST

MHI Agrees to Collaborate with Chiyoda Corporation for Licensing of CO2 Capture Technologies
May 07, 2024 13:49 JST

Four-strong TOYOTA GAZOO Racing squad to push for more Portugal success
May 02, 2024 18:05 JST

Spectacular Spa awaits TOYOTA GAZOO Racing
May 02, 2024 17:46 JST

Q&M Dental Enhances Digital Capabilities by Integrating Align Technology's Newest iTero Lumina(TM) Intraoral Scanner Across Dental Clinics in Singapore
May 02, 2024 11:00 JST

Sumitomo Metal Mining and Mitsubishi Corporation to Participate in Kalgoorlie Nickel Project - Goongarrie Hub
Apr 30, 2024 19:08 JST

New Immuno-Oncology Research Project in Partnership With Merck Starts at the BioMed X Institute in Heidelberg
Apr 30, 2024 18:00 JST

SPARX Group Establishes Space Frontiers Second Fund
Apr 29, 2024 18:49 JST

MHI Establishes Local Subsidiary "Mitsubishi Heavy Industries Vietnam"
Apr 29, 2024 18:00 JST

POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada
Apr 29, 2024 14:25 JST

Honda Plans to Establish Comprehensive Electric Vehicle Value Chain in Ontario, Canada
Apr 29, 2024 14:16 JST

More Latest Release >>