In an effort to expand business and improve its performance amid the weak market, Indonesian offshore service provider Wintermar Offshore Marine has expanded its operations to Brunei by creating a new subsidiary there which has begun its operation this year, according to local newspaper reports.

The newly established company has won a five year contract with Brunei Shell and Wintermar allocated 5.5 million US dollars to the particular operations this year.

The company is aggressively expanding its business activities abroad, putting hope to get 80% of the 168 million Dollar contract target for this year from outside Indonesia.

Besides Brunei, Wintermar now operates two ships involved in the medium-term contracts work in India, another two on the spot charter in Myanmar and one in Vietnam.

Wintermar has also separately allocated 6 million US Dollars to investment spending this year, which will include a budget to buy high-tech ship worth 4.2 million US Dollars.

74 high-tech vessels belonging to the company have been operating in Australia, Brunei, Russia and Myanmar, as quoted from Wintermar managing director Sugiman Layanto.

The company experienced a decline in the use of their fleet up to 61% in the period from January to March, compared with 70% in the same period last year due to low activities in the oil and gas industry, said Wintermar spokesperson Pek Swan Layanto.

Relating with that, Wintermar revenue also fell 39% to 29.3 million US Dollar resulted in a net loss of 1.4 million US Dollars in the first three months of the year.

Wintermar is now looking for opportunities in the Southeast Asia region to raise their vessel ulitisation level, she added. **

Retold from http://www.seatrade-maritime.com/news/asia/wintermar-looking-to-brunei-to-boost-performance.html?highlight=YToxOntpOjA7czo5OiJpbmRvbmVzaWEiO30=