From the helm: Bhagwan Marine Limited (ASX:BWN), Andrew Wackett, Director of Finance

Interview Series 1st October 2025

In this episode of from the helm, Grady Wulff sits down with Bhagwan Marine Limited (ASX:BWN) Director of Finance, Andrew Wackett, to unpack the company’s record FY25 results, divisional growth opportunities, and strategic plans for FY26 and beyond.

Andrew shares insights into Bhagwan Marine’s revenue drivers, vessel utilisation strategies, and expansion into new sectors including renewable energy and offshore wind.

In this interview, Andrew covers:

(0:49) an overview of Bhagwan Marine and its primary revenue streams
(1:18) the key drivers behind BWN’s record FY25 results
(3:06) managing rising day rates and tight vessel supply to drive margin expansion
(4:15) strategies to optimise vessel utilisation and maintain strong margins
(6:11) long-term goals for Bhagwan Marine over the next 5–10 years
(6:41) plans for expansion into new sectors like renewable energy and offshore wind
(7:20) key news flow investors should watch for over the next 12 months.

Note: This interview was filmed on 24 September 2025.