WINS Acquires Full Control of Fast Offshore Supply, Expanding CTV Fleet and Shipbuilding Capabilities

WINS has taken full control of Fast Offshore Supply Pte Ltd (FOS) and its Indonesian subsidiary PT Fast Offshore Indonesia (FOI) by acquiring the remaining shares, expanding its footprint in the crew transfer vessel (CTV) market. The acquisition brings five new DP2 CTVs scheduled for delivery in 2027 under a five-year charter with a major oil company in Brunei, along with a shipbuilding contract for five additional units to be delivered by 2028. These 55-meter vessels are designed for high operability year-round, featuring motion-compensated gangways, DP systems, and triple bow thrusters, powered by four CAT engines and Hamilton waterjets. With this move, WINS' high-tier fleet increases from 12 to 22 vessels, including the new CTVs, while its DP fleet rises to 25 units. The acquisition also lowers the average fleet age from 16 to 14 years and introduces a new earnings stream from shipbuilding. WINS paid US$26 million for 52.5% of FOS and US$7 million for 49% of FOI, financed through internal cash and a US$20 million loan. The transaction is earnings accretive, allowing full consolidation of charter and shipbuilding revenues. FOS has a decade-long presence in Brunei and operates seven aluminum vessels built at its Singapore yard. Following the acquisition, FOI will become a fully domestic Indonesian company, positioning it to serve anticipated demand for Indonesian-flagged aluminum vessels under cabotage regulations. This strategic expansion strengthens WINS' position as a leading OSV owner in Asia, providing long-term earnings visibility and modernizing its fleet with high-specification DP vessels. For more information, visit www.wintermar.com.