Jul 26, 2011

Wintermar wins US$18 mio contract

PT Wintermar, a  subsidiary of PT Wintermar Offshore Marine Tbk (WINS) has secured a letter of intent  from PT  Kaltim Prima Coal (KPC) to provide three units highly maneuverable azimuth stern drive (ASD) tug for a period of 5 years to assist the berthing and unberthing of large bulk carriers up to 220,000 dwt. 
The 5 year contract with an estimated value of US$18 million will commence on the last quarter this year. KPC is a world-class open-pit coal mine located in Sangata, East Kalimantan, Indonesia.
KPC commenced its operation in 1992 and produces quality steaming coal for export to the Asia Pacific region and beyond. KPC has exported thermal coal to Asia and Europe’s leading power generation utility companies and a range of the world’s steel makers.
Wintermar will deploy its 3 brand new built vessels for this contract. Wintermar operates ASD tugs serving various oil terminals in Indonesia since year 2000. 

Disclosure: No position at the stock mentioned above.

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