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Wintermar suffers after ‘challenging year’

The uptrend in oil prices earlier in the year was not sustained as 2018 wound down, resulting in uncertainty and delayed ongoing contract awards. Wintermar’s overall fleet utilisation was lower than expected in the fourth quarter, falling to 57% compared with 64% in the previous quarter

The group was more upbeat about the year ahead, pointing to diminishing fears of shale oil production oversupply and also optimism about developments in Indonesia, where the government has been more proactive in promoting oil and gas investments

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