JAKARTA, May 10, 2021 - (ACN Newswire via SEAPRWire.com) - Wintermar Offshore Marine (WINS:JK) has announced results for 1Q2021. Wintermar is back in the black with net profit before tax of US$0.2 million, after three quarters of net losses.Business conditions have improved in 1Q2021 since the worst of the pandemic in 2020. Utilization still remains below the level achieved in 1Q2020, but the trend is positive. Total revenue of US$10.2 million recorded in 1Q2021 is still 21% below the level of US$12.9 million achieved in 1Q2020. Despite this, the Company was able attain a positive contribution at the gross profit, operating profit and also at the comprehensive net profit level for 1Q2021 due to cost control measures taken in 2020.--Owned Vessel DivisionOwned Vessel Revenue for 1Q2021 was 16% YOY lower at US$8.35 million as utilization remains at 61% compared to 69% in 1Q2020. There was a delay in the commencement of operations for a large project in Indonesia due to repairs needed on the rig which caused some committed vessels to be idle. However, due to a 29% YOY reduction in direct costs, the Owned Vessel division showed a YOY jump of 170% in Gross Profit of US$1.8 million compar...