Wintermar signals fleet investment and digitalisation for shipmanagement

The revamped strategy comes as the owner has seen rising demand and utilisation of its OSVs.

“Since early 2021, there has been a rising trend for offshore activity, with more tenders being issued,” Wintermar said.

“This can be seen in higher utilisation and charter rates in most offshore vessel segments.”

Wintermar has accumulated US$69M in ongoing contracts as of the end of July 2021.

It reported gross profits of US$3.3M in H1 2021, compared to gross loss of US$0.66M for the same period in 2020, when markets were impacted by the Covid-19 pandemic.

Wintermar’s fleet utilisation improved from 61% in Q1 2021 to 63% in Q2 2021 as oil prices climbed. It reported total revenues of US$20.1M for H1 2021, 8% lower than in H1 2020.

Revenues this year were affected by a short-term impact on vessel utilisation when the Covid Delta variant spread globally, causing some disruptions to operations and infection spikes in June and July.

“The Delta variant of the coronavirus has presented challenges for many countries, but, the rising vaccination rates around the world have also brought mobility,” said Wintermar.

“The gradual opening up of economies again has added to the demand for oil and gas, prompting offshore oil and gas projects to commence, with some energy industry experts are projecting a shortage of supply coming up due to the declining productivity of existing oilfields,” the Indonesian owner said.

Wintermar has already sold vessels and reorganised its vessel management structure to reduce overheads.

Its owned vessel revenue declined 3% year-on-year to US$16.7M in H1 2021, but total direct costs for the division for fell sharply by 25% to US$14M.

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