Wintermar Offshore's operating profit rose 25% in 2025’s first nine months, driven by higher charter rates and margins despite lower fleet utilization.

Wintermar Offshore posted a 25.1% year-over-year increase in operating profit to $14.7 million for the first nine months of 2025, driven by higher charter rates and improved margins despite lower fleet utilization. Owned vessel revenue rose 11.6% to $50.3 million, supported by increased high-tier vessel utilization, while gross margins improved to 38% from 30%. Gross profit for owned vessels jumped 29.6% to $20.1 million. The chartering division’s profit fell to $0.35 million, but other services income rose 8.1% to $1.8 million. Net profit declined to $9.2 million from $19.7 million due to the absence of large one-off gains, though EBITDA rose 15% to $25.5 million. The company expects longer-term contracts to emerge in 2026–2027.