JAKARTA: Indonesia listed shipping company, PT Wintermar Offshore Marine Tbk has secured US$27 million loan from PT Bank Mandiri Tbk, used to purchase new vessels.The company finds it important to enhance its vessel fleet following several working contract bids, said Wintermar Head of Corporate Planning Department Pek Swan Layanto.Bank Mandiri provides loan facility with below 5% interest rate per year with five years maturities.The loan will be utilized to purchase several vessels. The types of vessels depend on the bid that Wintermar wins, he told Bisnis yesterday.Prior to this, Wintermar also secured US$18 million loan with nine years maturities from Deutsche investitionsund Entwickllungsgesellschaft mbH, subsidiary of the German-based kfW Bankengruppe.The loan was used to purchase three high technological vessels primarily to back its offshore activities.Pek Swan said that Wintermar is about to seek up to US$70 million loan this year merely to fulfill its capital expenditure needs reaching US$100 million. This capex is used to purchase 12 new vessels.In the meantime, Wintermar has secured 24 working contracts, valuing US$110.5 million during the first six months this year.The recent contract involves PT Total E&P Indonesie, costing US$6.5 million. The contract is effective by February 2012.Wintermar will prepare one unit of tug supply for Total E&P Indonesie, starting next year, said Pek Swan.The vessel will operate in East Borneo particularly to carry cargo and passengers, clean up oil spill in the sea, extinguish fire, handle core and ensure security.Separately, Chief Financial Officer Group of PT Indo Straits Tbk Dwi Prasetyo Suseno said that the company is eyeing four marine logistic project focusing on oil and gas sector in Borneo.We are still negotiating and is yet to detail out those projects, he explained. (t02/msw)

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