Indonesian OSVs getting ‘notable increase’ in charter rates

Jakarta: While announcing its annual results local OSV operator PT Wintermar Offshore Marine noted how charter rates for offshore support ships have soared this year, following law changes.

The cabotage exemption for DP2 vessels, platform supply vessels (PSVs), AHTSs above 5,000BHP and diving support vessels ended on 31 December 2012. Wintermar said there has been a “notable increase” in charter rates for available Indonesian flagged vessels in these categories.

Wintermar saw net profit grow 23% last year to $20.2m.  [01/04/13]

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