PT Wintermar Offshore Marine Tbk reported earnings results for the first quarter of 2017. For the quarter, the company reported overall revenue including Chartering Division fell by 44% year on year to USD 13,083,229 compared to USD 23,267,039 in first quarter 2016. This was caused by the lagged effect of the near standstill in tendering activity experienced in the second half of 2016, which resulted in lower charter rates at the same time as the utilization rate dipped below 50%. Operating loss was USD 2,164,501 compared to operating profit of USD 2,594,111 a year ago. Net loss before tax was USD 5,198,535 compared to USD 1,169,920 a year ago. Net loss attributable to shareholders was USD 3,980,156 compared to USD 1,419,485 a year ago. EBITDA was USD 4,778,731 compared to USD 9,676,312 a year ago. Weighted average loss per share was 0.10 cents compared to 0.04 cents a year ago.