21 June 2011
WINS has signed a 9 year loan with the German development finance
institution DEG - Deutsche Investitions- und Entwicklungsgesellschaft
mbH, for a total of USD 18 million to finance the company's fleet
expansion plan for 2011. The loan will be used to finance 3 offshore
support vessels in the higher value segment.
DEG, member of KfW Bankengruppe, is one of the largest European
development finance institutions. DEG invests in profitable projects
that contribute to sustainable development in all sectors of the
economy, from agribusiness to infrastructure and manufacturing to
services.
Since the company's IPO in November last year, WINS has taken
delivery 1 unit of Fast Utility Vessel, 2 units of Anchor Handling Tug
Supply, 1 Utility Vessel and expects to take delivery of another Fast
Utility Vessel and one Utility Vessel in June, while another 6 vessels,
including a Heavy Load Barge, another Fast Utility Vessel, and an
Anchor Handling Tug is expected to be delivered within the next one to
three months.
Managing Director of WINS, Sugiman Layanto, said, "As mentioned in
our Public Expose on 7 June 2011, one aspect of our business
strategy for 2011 is to identify and work with key international partners
to secure long term funding for our business expansion. We are very
pleased to be working with DEG that has a strong developmental focus
and has been providing long term funding to private business in
Indonesia since 1972. We are confident that with the support of DEG,
we will be able to penetrate the higher value offshore support vessel
market by offering high technology vessels combined with high quality
services to our clients."
Mr Hans-Juergen Hertel, Director of DEG Office Jakarta, said, "DEG is
happy and proud to join hands with WINS which is a financially sound
company with excellent management and a strong track record.
Through the provision of its loan DEG supports the goal of the
Indonesian government to continuously improve its transport/shipping
sector which in a country with more than 13.000 islands plays a very
vital role. The offshore marine services WINS supports one of the key
sectors (oil and gas) in the Indonesian economy and is therefore of
great importance for the development of the country.”
WINS is currently actively tendering for 42 different projects in the mid
and high tier vessel segments. Contract terms range between 1 month
to 11 years, as these projects range from the exploration phase up to
production phase, indicating a strong demand for offshore support
vessels in the past few months.
Cabotage Law Update
In Ministerial Decree of Transportation, PM 48/2011 (18 April 2011)
following the exemption of certain classes of vessels engaged in the oil
and gas sector that do not carry passengers and cargo, the
government has set deadlines for these various sub categories of
vessels to be compliant with Indonesian flag under the Shipping Law
UU No.17/2008.
These deadlines are as follows:
- Diving Support Vessels / certain offshore support vessel – Dec 2012
- Offshore Construction – Dec 2013
- Dredging activities – Dec 2013
- Seismic activities – Dec 2014
- Drilling Rigs – Dec 2015
WINS has signed a 9 year loan with the German development finance
institution DEG - Deutsche Investitions- und Entwicklungsgesellschaft
mbH, for a total of USD 18 million to finance the company's fleet
expansion plan for 2011. The loan will be used to finance 3 offshore
support vessels in the higher value segment.
DEG, member of KfW Bankengruppe, is one of the largest European
development finance institutions. DEG invests in profitable projects
that contribute to sustainable development in all sectors of the
economy, from agribusiness to infrastructure and manufacturing to
services.
Since the company's IPO in November last year, WINS has taken
delivery 1 unit of Fast Utility Vessel, 2 units of Anchor Handling Tug
Supply, 1 Utility Vessel and expects to take delivery of another Fast
Utility Vessel and one Utility Vessel in June, while another 6 vessels,
including a Heavy Load Barge, another Fast Utility Vessel, and an
Anchor Handling Tug is expected to be delivered within the next one to
three months.
Managing Director of WINS, Sugiman Layanto, said, "As mentioned in
our Public Expose on 7 June 2011, one aspect of our business
strategy for 2011 is to identify and work with key international partners
to secure long term funding for our business expansion. We are very
pleased to be working with DEG that has a strong developmental focus
and has been providing long term funding to private business in
Indonesia since 1972. We are confident that with the support of DEG,
we will be able to penetrate the higher value offshore support vessel
market by offering high technology vessels combined with high quality
services to our clients."
Mr Hans-Juergen Hertel, Director of DEG Office Jakarta, said, "DEG is
happy and proud to join hands with WINS which is a financially sound
company with excellent management and a strong track record.
Through the provision of its loan DEG supports the goal of the
Indonesian government to continuously improve its transport/shipping
sector which in a country with more than 13.000 islands plays a very
vital role. The offshore marine services WINS supports one of the key
sectors (oil and gas) in the Indonesian economy and is therefore of
great importance for the development of the country.”
WINS is currently actively tendering for 42 different projects in the mid
and high tier vessel segments. Contract terms range between 1 month
to 11 years, as these projects range from the exploration phase up to
production phase, indicating a strong demand for offshore support
vessels in the past few months.
Cabotage Law Update
In Ministerial Decree of Transportation, PM 48/2011 (18 April 2011)
following the exemption of certain classes of vessels engaged in the oil
and gas sector that do not carry passengers and cargo, the
government has set deadlines for these various sub categories of
vessels to be compliant with Indonesian flag under the Shipping Law
UU No.17/2008.
These deadlines are as follows:
- Diving Support Vessels / certain offshore support vessel – Dec 2012
- Offshore Construction – Dec 2013
- Dredging activities – Dec 2013
- Seismic activities – Dec 2014
- Drilling Rigs – Dec 2015