Passionately delivering powerful solutions
In 1983, Yinson was founded by Lim Han Weng as a humble transport and logistics company in Johor Bahru, Malaysia. Thanks to an unwavering commitment to excellent customer service and on-time delivery, the little company grew exponentially. In 20 years, Yinson became one of the Malaysia’s biggest transport companies, operating a fleet of 365 trucks and supplying a further 565 trucks to our customers.
In 2010, Yinson expanded our services to cover marine transport with the acquisition of five tugboats. That same year, we won a contract for port cargo handling services in Vietnam.
One year later, Yinson stepped foot into the oil and gas industry by forming a consortium with PetroVietnam Technical Services Corporation (PTSC, a subsidiary of PetroVietnam). The joint venture company was awarded a contract for the charter of a floating storage and offloading vessel (FSO), FSO PTSC Bien Dong 01. This paved the way for Yinson to win a contract for the charter of a floating production storage and offloading vessel (FPSO), FPSO PTSC Lam Son.
In 2014, our business was further strengthened with the acquisition of established Norwegian FPSO company Fred. Olsen Production ASA – a company that shares our commitment to excellence and strategy for long-term charter contracts. Through the acquisition, Yinson inherited a strong and experienced team, as well as contracts for a further three FPSO vessels and a mobile offshore production unit (MOPU).
By mid-2016, Yinson divested its non-oil and gas business segments, streamlining the business to become a full-fledged oil and gas company.
Today, with our diversified geographical presence and extensive engineering and operational expertise, Yinson has grown to become the 6th largest independent FPSO leasing company in the global FPSO market. Our geographical presence extends across the world, from West Africa, the Americas, Europe and South East Asia.
Through strategies contained in our business model, Yinson is poised to create long term value for all our stakeholders.
Reputable and renowned clients and joint venture parties which limit or remove counterparty risks
Delivering proven consistency in fleet uptime (>99%)
Strong order book underpinned by long term contracts, delivering sustainable and predictable cash flows
Ensuring that the Group is contractually protected against early contract termination, oil price volatility and reservoir risks
Removing construction risk from and providing working capital to oil companies by serving as their de facto production arm
Using non-recourse / limited recourse financing structure for project debt funding
Investing in local communities
Firm on principles and fundamentals but commercially flexible
Extensive track record of delivering projects to clients on time and within budget