A company that has switched its attention from commercial shipping into the offshore support vessel (OSV) market is Wootz Global. Managing director Vivek Khabya told Singapore Solutions: “Our focus was on the dry bulk market and the tanker market, and then we switched attention to the OSV market – most recently into subsea and projects. But we also do rig management and rig movements, and we undertake various projects, such as pipeline installation in Brunei, which is a diversification for us.
“We are a fairly new company in Singapore, as a bareboat charterer of vessels. We have two geo-technical vessels working fully for us on bareboat charters with purchase options. We have offices in Singapore and Kuala Lumpur and are also setting up an office in Jakarta.
“We were operating in Indonesia under the Singapore flag but from 1 January 2017 are subject to full cabotage restrictions there, so will have to switch to the Indonesian flag. We are also buying a drilling rig to operate in Indonesia which will be converted to the Indonesian flag. We have tie ups with various offshore operators in the Southeast Asia region.” He said that Wootz is now looking to expand in other areas, including South America.