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 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).
Since the acquisition, we have added three new FPSO projects to our track record (FPSO John Agyekum Kufuor, Ghana; FPSO Helang, Malaysia and FPSO Abigail-Joseph, Nigeria). Our latest asset, FPSO Anna Nery, is currently under construction.
Today, with our diversified geographical presence and extensive engineering and operational expertise, Yinson has grown to become one of the largest independent FPSO leasing companies globally.
In 2019, Yinson diversified into renewables. Within a year, we acquired our first operational renewables asset, the 140MW Bhadla solar plants in India, and built a strong pipeline of greenfield development projects across the globe. In early 2021, we secured a new contract to build, own and operate a 190MW solar plant in the Nokh Solar Park, India. Our renewables footprint is rapidly expanding as we target to become a globally recognised independent power producer within clean energy.
In 2020, Yinson established our Green Technologies Division. The Division focuses on investing in new technologies and business areas that enable the global transition to a carbon free environment.
Yinson currently operates four business divisions - Offshore Production, Renewables, Green Technologies and Offshore Marine
Yinson provides integrated services for the offshore oil and gas industry. We design and construct vessels, then lease them, while also providing operations and maintenance services.
Yinson’s 5-10 year vision is for renewables to be an additional major revenue stream, where we will build, own, and operate renewable generating assets. The primary focus will be on onshore wind and solar, but may also include offshore wind, hydro and other opportunities.
Yinson is actively supporting the global transition to a carbon-free environment by investing in green technologies within the marine, transport and energy segments with the goal of building profitable businesses, based on asset operation and ownership, within these areas.
Yinson’s offshore marine services are a supporting revenue stream for the company, where we own, operate, and charter OSVs to support services to the energy industry.
Through strategies contained in our business model, Yinson is poised to create long term value for all our stakeholders.