AsiaOffshore

Wintermar postponing deliveries

Jakarta: Indonesian shipowner Wintermar Offshore Marine has announced that it has reduced its planned 2015 capital expenditure by 40% to $30m to deal with market challenges. The company will also be postponing two out of three deliveries to the second half of the year when it expects more visibility on the outlook.

“Exploration work which we had expected to start in Indonesia has been delayed because of the bleak and uncertain outlook on oil prices. We continue to market our vessels in the region in 2015 but since the industry globally is facing severe cutbacks in capital expenditure, we expect price pressures amidst strong competition for work,” the company said in a release.

“The outlook for 2016 and beyond looks markedly better because of domestic factors and we believe that as Indonesian flagged shipowners we will have a better competitive environment arising from the domestic cabotage regulation when Indonesian activity starts to pick up again,” the company added.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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