Wintermar Offshore Marine Group has secured a two-year contract for two of its platform supply vessels (PSVs) offshore Indonesia.
The charter rates are more than double the average rate for similar vessels last year, the company said. Its contracts backlog now stands at $75 million.
This new work was also the first award of a long-term tender for PSVs in Indonesia for several years, the company added, and suggests that a growth cycle in the region is underway.
Earlier this month, the company entered a joint venture to own and operate an accommodation work barge with a 300-passenger capacity with PT Rajawali Perak Mulia.
The vessel is currently operating offshore Thailand.
Wintermar has a fleet of more than 48 offshore support vessels (OSVs), all operated by Indonesian crews, tracked by satellite systems and monitored in real time by shore-based vessel teams.
The current focus in the region on deepwater and ultradeepwater exploration has strengthed demand for advanced OSVs capable of operating in these environments, the company said.
However, the shortage of newbuilds vessels and an aging fleet, particularly among the larger vessels critical for deepwater operations, is imposing constraints on the market, pushing charter rates higher, according to the company.
