Environmental & Social Review Summary
Project Number
30964
Company Name
WINTERMAR OFFSHORE MARINE, PT TBK
Date ESRS Disclosed
Oct 3, 2011
Country
Indonesia
Region
East Asia and the Pacific
Last Updated Date
Nov 3, 2023
Environmental Category
B - Limited
Status
Completed
Previous Events
Approved : Aug 10, 2012
Signed : Dec 27, 2011
Invested : Mar 12, 2012
Sector
Oil and Gas Transport or Pipeline
Industry
Infrastructure
Department
Gbl Infrastructure & Natural Resources
Project Description
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.
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.
Overview of IFC's Scope of Review
IFC has reviewed technical information provided by PT Wintermar Offshore Marine Tbk. (“Wintermar” the “Company”), an Indonesian Offshore Support Vessel operator (OSV). The scope of IFC’s appraisal primarily included a review of Wintermar’s compliance with IFC’s Performance Standards and management capacity to provide adequate oversight of environmental, social, health and safety aspects of its business. The review relied on documents and reports made available by Wintermar, a visit to a Wintermar vessel and interviews conducted by IFC staff during meetings with Wintermar’s senior management team in Jakarta, Indonesia. The interviews were focused toward the Wintermar Fleet Operations department, the Health, Safety and Environmental (HSE) department, the Human Resources department and individuals responsible for the community engagement aspects of Wintermar’s operations.
