Indonesian offshore vessel operator Wintermar has strengthened its footprint in Brunei through a venture with a local-based partner.
Wintermar said the partnership called Savwin in which it will hold 49% stake should give the company an advantage in tendering for longer term contracts in Brunei which favour local content.
Savwin will initially operate a fast multipurpose supply vessel which is currently on a long-term contract until 2027.
Wintermar has been present in Brunei since 2014. The company operates nearly 50 OSVs with utilisation at 74% at the end of the fourth quarter of 2023 and contracts on hand worth about $82m.
