Wintermar Offshore Marine Tbk

What Wintermar Offshore Marine Tbk does

Wintermar Offshore Marine Tbk (IDX: WINS) is an Indonesia-listed owner-operator of offshore support vessels (OSVs) serving oil and gas exploration and production, subsea construction, offshore wind installation, telecommunications cable operations, and port services. Founded in 1995 and listed on the Indonesia Stock Exchange since November 2010, the company operates a diversified fleet of 40+ vessels across 10+ Southeast Asian countries, crewed by 770+ seafarers. The fleet spans Platform Supply Vessels, Anchor Handling Tug Supply vessels, Fast Utility Vessels, Fast Multi-Purpose Supply Vessels, Azimuth Stern Drive Tugs, Utility Vessels, Heavy Load Deck Barges, and DP2-equipped vessels for subsea construction, seismic survey support, ROV operations, and pipe tailing.

The technology stack is physical-asset-led rather than software-led: DP2 dynamic positioning, anchor handling technology, FIFI/ERRV firefighting and emergency response certification, shore-power connections to eliminate generator use at berth, and fleet digitalization for real-time performance tracking and fuel efficiency. The June 2026 acquisition of Fast Offshore Supply Pte Ltd added an in-house shipyard in Singapore, 5 newbuild DP Crew Transfer Vessels, and a contract to deliver 5 next-generation 55m aluminium CTVs to Brunei Shell Petroleum by 2028.

Revenue is generated through four streams: owned-vessel chartering on multi-year contracts (recurring/subscription), third-party vessel chartering tendered with QHSE support (transaction fees), third-party ship management covering crewing, technical maintenance, operations, and agency services (professional services), and new shipbuilding through the FOS subsidiary (managed services). The customer base is concentrated in oil and gas, with logos spanning both international majors (Brunei Shell Petroleum, TotalEnergies, BP, Chevron, ExxonMobil, ConocoPhillips, PetroChina, Santos, Mubadala Energy, Harbour Energy, Hess, ENI) and national oil companies (Pertamina, PHE ONWJ, MedcoEnergi, Star Energy). Charter pricing is contract-based, varying by vessel type, DP capability tier, and contract duration.

Name

Wintermar Offshore Marine Tbk

Legal name

PT Wintermar Offshore Marine Tbk

Website

https://wintermar.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Wintermar Offshore Marine Tbk is an Indonesia-listed owner-operator of 40+ offshore support vessels serving oil and gas majors, national oil companies, and offshore wind developers across Southeast Asia through chartering, ship management, and crew management.

Ownership category

akta.pro rank

Product category

Offshore Support Vessel Services

NAICS

Other Support Activities for Water Transportation (48839), Support Activities for Water Transportation (4883), Ship Building and Repairing (336611)

SIC

Water Transportation (4400), Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)

akta.pro secondary industries

Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL), Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG)

Keywords

• Offshore support vessels
• Vessel chartering services
• Ship management services
• Anchor handling tugs
• Crew transfer vessels

Headquarters

HQ city

Pinggirrawa Barat

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Owned Vessel Operations: Own and operate diversified fleet of Offshore Support Vessels providing marketing, ship management and technical services for own fleet. Revenue from owned vessel charter rates and utilization.
2. Vessel Chartering: Leveraging expertise and market knowledge to tender for work using third-party vessels, providing QHSE support where needed. Generates revenue from charter margins and service fees.
3. Ship Management Services: Third-party ship management including crewing, technical and maintenance, operations, and agency services. May also hold marketing rights to vessels under management.
4. New Shipbuilding Earnings: Through subsidiary Fast Offshore Supply Pte Ltd (FOS) which operates a shipyard in Singapore, building next-generation aluminum Crew Transfer Vessels for charter contracts

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Wintermar Offshore Marine Tbk owns and operates a diversified fleet of more than 40 offshore support vessels — including Platform Supply Vessels (PSV), Anchor Handling Tug Supply (AHTS), Fast Utility Vessels, Fast Multi-Purpose Supply Vessels (FMPSV), Azimuth Stern Drive Tugs, Utility Vessels, Heavy Load Deck Barges, and DP2-equipped vessels — providing charter, ship management and crew management services to oil & gas operators across Southeast Asia. The company also performs third-party vessel chartering and offers shipbuilding capability through its subsidiary Fast Offshore Supply in Singapore.

Product overview

Wintermar operates as an offshore support vessel owner and operator offering a diversified fleet of specialized vessels including Platform Supply Vessels (PSV), Anchor Handling Tug Supply (AHTS), Fast Utility Vessels, Fast Multi-Purpose Supply Vessels, Azimuth Stern Drive Tugs, Utility Vessels, and Heavy Load Deck Barges. The fleet includes DP2-equipped vessels for subsea operations and next-generation 55m aluminium Crew Transfer Vessels acquired through Fast Offshore Supply. Services include vessel chartering, ship management, crew management and comprehensive offshore marine solutions covering rig moves, crew transport, pipe tailing, air diving, ROV support, firefighting, harbour towage, cable laying, seismic survey support and offshore windfarm installation. Wintermar provides both owned vessel operations and third-party chartering services, functioning as a integrated offshore maritime solutions provider.

Differentiator

Problem solved

Functional benefit

Products and services

• Platform Supply Vessel (PSV) Versatile supply vessel that transports equipment, chemicals, personnel and other supplies to offshore rigs in various water depths; chartered to oil and gas operators.
• Anchor Handling Tug Supply (AHTS) Vessel equipped with technology and expertise to handle both short- and long-distance tows, providing anchor handling solutions for offshore rigs and platforms.
• Fast Utility Vessel High-speed vessel designed for crew transport to and from offshore rigs, prioritizing speed and safety for personnel transfers.
• Fast Multi-Purpose Supply Vessel (FMPSV) Multi-role aluminium vessel capable of supply, crew transfer and equipment transport functions for offshore support operations.
• Azimuth Stern Drive Tug Harbour tug supporting berthing and unberthing of ocean-going vessels, equipped with Azimuth Stern Drive propulsion and operating 24 hours.
• Utility Vessel General-purpose offshore support vessel for various maritime operations and logistics support.
• Heavy Load Deck Barge Ballastable barge with deck and load capability supporting offshore wind farm installation and heavy cargo transport.
• DP2-Equipped Vessel Services Dynamic Positioning 2 equipped vessels with advanced positioning capabilities for subsea construction, ROV support, anchor handling and precision offshore operations.
• Next-Generation 55m Aluminium Crew Transfer Vessel (CTV) Advanced aluminium crew transfer vessel with next-generation design and DP capability for efficient personnel transport to offshore installations.
• Vessel Chartering Services Comprehensive third-party vessel chartering services including vessel procurement, QHSE support and market expertise for offshore operations.
• Ship Management Services Third-party ship management including crewing, technical maintenance, operations, agency services and marketing rights for vessels under management.
• Crew Management Services Professional crew provisioning and management services for offshore vessels, including training and certification, supported by 770+ skilled seafarers.

Quantifiable outcome

• 31% year-on-year increase in operating profit to US$23.3 million in FY2025
• +4 more outcomes

Named customers17 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core, minor and strategic.

• Brunei Shell Petroleum (BSP)coreStrategic or Co-development Partner · 26 June 2026Major oil company customer for whom Wintermar secured contract for 10 next-generation 55-m aluminium crew transfer vessels through FOS acquisition, with first 5 vessels due for delivery in 2027.
• Fast Offshore Supply Pte Ltd (FOS)coreStrategic or Co-development Partner · 23 June 2026Wintermar acquired full control of FOS and its subsidiary PT Fast Offshore Indonesia (FOI) by purchasing remaining 52.5% stake in FOS for US$26 million and 49% of FOI for US$7 million. FOS owns 7 Fast Multi-purpose Aluminum Vessels, operates a shipyard in Singapore, and holds contracts to supply 5 next-generation aluminum Crew Transfer Vessels to Brunei Shell Petroleum by 2027 and build additional 5 units by 2028.
• Seacoral Maritime Pte LtdminorOthers · 23 June 2026Affiliate company from which Wintermar acquired the remaining stakes in FOS and FOI. Transaction financed through internal cash flow and US$20 million loan.
• PT Alto Nautika TeknologiminorStrategic or Co-development Partner · 20 February 2026Joint venture company in which Wintermar invested capital for technology and business development purposes.
• Petromar Offshore Sdn BhdminorStrategic or Co-development Partner · 23 January 2026Joint venture company established through Wintermar subsidiary for offshore marine services in Malaysia.
• PACC Offshore Services Holdings Ltd (POSH)strategicStrategic or Co-development Partner · 22 November 2012Joint venture partnership between WINS and POSH to serve the Indonesian market for Anchor Handling, Towing & Supply (AHTS) vessels. WINS brings local market expertise while POSH contributes operational capabilities.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Vallianz Holdings: Singapore-based OSV owner-operator with a fleet of AHTS and offshore vessels serving oil & gas customers across the Middle East and Southeast Asia. Comparable in vessel mix and regional client base to Wintermar.
• Mermaid Maritime: Thailand-headquartered OSV and subsea services company operating AHTS, PSVs, and ROV/subsea vessels across Southeast Asia. Direct competitor for subsea construction and offshore support contracts in the region.
• PACC Offshore Services Holdings (POSH): Singapore-based offshore support vessel owner-operator focused on anchor handling, towing, and supply vessels across Asia. WINS has a JV with POSH since 2012 for AHTS vessels in Indonesia, making it the most directly comparable peer.
• Icon Offshore: Malaysia-listed OSV operator with AHTS and PSV fleet serving Petronas and regional oil majors. Closest geographic peer in the Malaysian market with similar vessel profile to WINS.

Broad incumbents

• Edison Chouest Offshore: Large privately-held US-based OSV operator with global presence across offshore energy markets. Provides comparative benchmark for advanced vessel technology and IOC relationship management.
• Solstad Offshore: Norway-based global OSV owner-operator with a large AHTS, PSV, and subsea construction vessel fleet. Comparable in fleet mix and IOC customer base; relevant for global rate and utilization benchmarking.
• Vroon Offshore: Dutch-based offshore and shipping company with PSVs, AHTS, and subsea support vessels serving oil & gas clients globally. Comparable fleet profile and offshore E&P customer overlap with WINS.
• Tidewater Marine: One of the largest global OSV operators with a fleet of 200+ vessels serving the offshore energy industry worldwide. Provides broad benchmark for global OSV day rates and utilization, with overlap in Southeast Asia.
• Bourbon Corporation: Global OSV major offering offshore marine services with a large fleet of AHTS, PSVs, and crew boats. Serves as a global benchmark for OSV fleet economics and competes with WINS for IOC work in Asia-Pacific.

Emerging players

• Smit Lamnalco: Royal Boskalis Westminster subsidiary providing towage, OSV, and offshore terminal services with strong presence in Southeast Asia, Middle East, and Africa. Overlaps with WINS harbour towage and offshore support offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pt-wintermar

Compliance20 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wintermar Offshore Marine Tbk