Our journey

Past, present, and future

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.

  • Yinson at a glance

Corporate milestones

Our business goals

  • Short term goals
    Short term goals
    Deliver FPSO solutions for the contracts that we have won this year on time and on budget. Maintain and build excellence in operations.
  • Medium term goals
    Medium term goals
    Strive to deliver more projects in the FPSO segment, particularly in our current geographical areas to enhance economies of scale via cost reduction. The Group will also be on the lookout for good assets that are able to complement our current and future business segments.
  • Long term goals
    Long term goals
    Continue to assess opportunities to expand and diversify into other forms of energy infrastructure assets to broaden our revenue base.

Our strategy

Through strategies contained in our business model, Yinson is poised to create long term value for all our stakeholders.

  • High quality counterparties

    Reputable and renowned clients and joint venture parties which limit or remove counterparty risks

  • Track record in operations and maintenance

    Delivering proven consistency in fleet uptime (>99%)

  • Long term charter contracts

    Strong order book underpinned by long term contracts, delivering sustainable and predictable cash flows

  • Robust contractual terms

    Ensuring that the Group is contractually protected against early contract termination, oil price volatility and reservoir risks

  • Design, construct, own, lease and operate model

    Removing construction risk from and providing working capital to oil companies by serving as their de facto production arm

  • Disciplined business and financial management

    Using non-recourse / limited recourse financing structure for project debt funding

  • Strong local content in operating countries

    Investing in local communities

  • Winning contracts with innovative and cost-effective solutions

    Firm on principles and fundamentals but commercially flexible

  • Strong and experienced project execution teams

    Extensive track record of delivering projects to clients on time and within budget

  • © 2019 Yinson Holdings Berhad 199301004410 (259147-A).
    All rights reserved.
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