Wintermar acquired a number of cold-stacked UT755 design platform supply vessels (PSVs) from the former Deep Sea Supply fleet in 2022, including Sea Bass, along with five anchor handlers. Wintermar reported an 18 per cent increase in charter rates in April 2023 compared to the 2022 average for its higher specification vessels (slide 21), and the company is busy reactivating laid-up ships to meet market demand in South-East Asia. The recent investor presentation by Indonesian offshore support vessel (OSV) operator Wintermar shows how optimism is spreading globally for owners. Whilst offshore wind continues to expand at a frantic pace, despite profit margins being thin, offshore oil and gas is also enjoying a renaissance. This week, we look at the momentum building in offshore. The old adage that the more often you see the grinning visage of a CEO in the press, the more likely you should be to sell the company’s stock definitely applies here.
We concluded that the deal was marred by some very large payments to unknown parties who are creaming off tens of millions of dollars for reasons not properly explained, and by Cadeler’s very optimistic and likely unrealistic plans to achieve US$106 million in annual synergies from the deal. Last week, we looked at the poor disclosure associated with the takeover of wind turbine installation vessel (WTIV) owner Eneti by Danish rival Cadeler. We said it last year, we say it again: offshore is back!
0 kommentar(er)
