Wintermar Group

completed

Wintermar, established in 1970 as a tug and barge operator providing domestic loading and transportation vessel chartering services, is currently the largest domestic operator of OSVs in Indonesia. With an average vessel age of 9 years, compared to 14 years worldwide, Wintermar operates a diversified fleet of 66 owned vessels and operates an additional 11 vessels comprised of tug boats, landing crafts, crew boats, fast utility vessels, coal and oil transportation barges, anchor handling tugs, diving support vessels, harbor tugs and platform supply vessels, primarily servicing multi-national oil and gas exploration & production companies throughout Indonesia and the wider region. The Company is planning to expand the existing fleet by 15 vessels at an estimated cost of $140 million, of which IFC is seeking to invest up to $60 million. The proposed uses of the proceeds include the funding of up to 8 of these 15 vessels.